March witnessed a consistent growth in US jobs giving hopes that interest rate will be increased this year in the Federal Reserve.

As per a Reuters economy survey, in February, 295, 000 nonfarm payrolls were reported and in March, more 245,000 have been added. With this, March has become the 13th consecutive month of job growth.

The news seems to be welcoming at the time when the labor market is facing so many problems including a difficult winter season, a resilient dollar and a decreasing global demand. All these and other factors have affected the economic activity in the first quarter of the year.

Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania, was of the view that the quick recovery will make one thing clear that economy slowed temporarily due to weather-reasons and not because of fundamentally faulty.

The Labor Department will reveal the monthly report on employment rates at 8.30 am on Friday. Experts affirmed that a lot of overseas stock markets will not open owing to Good Friday holiday, but the US bond markets will be opening for a few hours.

Experts affirmed that the employment growth might not have met the prediction, but any number above 200,000 will be considered to have a positive impact on the economy. Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania, said that some more moderate numbers should be expected.

The Fed is yet to reveal a June rate hike, but many analysts have affirmed that the first increase will not be earlier than September. David Joy, chief market strategist at Ameriprise Financial, said, “September is most likely. But if we see a string of successively strong job numbers in the next three months, June is in play”.