Given the trend of revisions, I wouldn't be surprised if the real loss is around 6 figures, May 2026 revision went from 172k to 63k.
Plus, many people also seem to not realize that our baseline is needing to create around 150k jobs a month just to keep the same unemployment rate. So in this current version of paper reality we lost 20k jobs and also failed to employ another 150k new workers, increasing unemployment by 170k. And I suspect those numbers are generously offset by people who have been forced to take significantly lower wages just to find work.
What happened between February and March?
Apparently there were healthcare strikes in February that depressed the numbers there, which were resolved by March. Also maybe data center and World Cup hospitality hiring. But hard to say. As others have noted, there are big error bands on these numbers.