Healthcare led industries for growth as the U.S. economy added a better-than-expected 303,000 nonfarm jobs in March and the unemployment rate ticked down to 3.8% from the prior month’s 3.9%, the Labor Department reported.

The government said healthcare added 72,000 jobs, well above the average monthly gain of 60,000 over the past 12 months. Government jobs increased 71,000 for the month, with gains of 49,000 in leisure and hospitality, 39,000 in construction, 18,000 in retail and 9,000 in social services.

Lawrence Yun, chief economist for the National Association of Realtors, said the latest data shows the economy has now added 5.8 million jobs compared with pre-pandemic levels of early 2020. Construction jobs are up 600,000 from four years ago, boding well for a boost in the national housing supply in coming months.

“More jobs mean more potential housing demand in the future,” Yun said in a statement. “But more jobs also mean the interest rate decline could stall as the Federal Reserve re-evaluates inflation risk.”

The Fed has signaled up to three rate cuts later this year in its key borrowing rate.

March data showed annual wage growth averaging 4.1% after two straight years above 5%, which analysts said could help lessen overall consumer inflation, which has already been trending down in recent months and was 3.2% as of February. The government said the unemployment rate remains low by historical standards, ranging between 3.7% and 3.9% since August 2023.

“Job growth defied expectations and accelerated in March, but the upside surprise does not change our call for the Federal Reserve to start cutting interest rates in June,” Nancy Vanden Houten, lead U.S. economist for research firm Oxford Economics, said in a statement. 

McDonald’s announced it is buying all 225 restaurants from Israeli franchisee Alonyal, amid boycotts and other disruptions facing the world’s largest restaurant chain over the fighting in Gaza.

A company statement said an agreement was reached for Chicago-based McDonald’s to buy the locations for an undisclosed price, with the deal to close in coming months as McDonald’s retains more than 5,000 employees based on their current pay structure. Led by Israeli businessman Omri Padan, Alonyal has operated the McDonald’s restaurants for more than 30 years.

McDonald’s and its franchisees operate more than 40,000 locations worldwide, and the company said it “remains committed to the Israeli market.” The company in February reported its first revenue miss in nearly four years for its latest quarter, largely due to slowing sales in its division that includes its Middle East restaurants.

McDonald’s CEO Chris Kempczinski in January said the company has experienced a “meaningful business impact” caused by Middle East tensions and responses to the Gaza situation from consumers in other regions including Malaysia and Indonesia.

Customers in large numbers, especially in Muslim and Arab-majority countries, have boycotted the burger chain to protest U.S. support of Israel amid Gaza fighting. McDonald’s has stated since last fall that it is not funding or supporting any governments involved in the conflict.

The Gaza situation presents the biggest challenge for global restaurant operators since Russia’s 2022 invasion of neighboring Ukraine. McDonald’s and KFC parent Yum Brands were among numerous U.S.-based companies across several industries that shut down or sold off their Russian operations in response. 

Major League Baseball’s Oakland A’s will play at a minor league ballpark in West Sacramento, California, for the next three seasons, ahead of the expected completion of its planned $1.5 billion stadium on the Las Vegas Strip.

A team statement said plans are in place for the A’s to play at Sutter Health Park for the 2025 through 2027 seasons, as the team leaves the Oakland Coliseum after the current MLB season. The 10,624-seat ballpark, owned by a regional stadium authority, is also home to the Sacramento River Cats, an affiliate of MLB’s San Francisco Giants. 

The A’s are planning a 33,000-seat stadium on the current site of the Tropicana hotel-casino on the southern end of the Vegas Strip, expected to open in 2028. The 67-year-old Tropicana closed this month and is expected to be imploded by year’s end, as owner Bally’s plans a new hotel-casino with other mixed-use elements adjacent to the planned A’s stadium.

A’s owner John Fisher said the team was unable to come to terms with city and county officials to extend the A’s lease at Oakland Coliseum, its home venue for 57 years, beyond the current MLB season. The exit will cap several years of regional attempts to retain the A’s, including an aborted proposal for a large mixed-use development near the Port of Oakland centered around a new ballpark.