The U.S. Bureau of Labor Statistics reported that nonfarm payroll employment increased by 228,000 in March, with the unemployment rate remaining relatively unchanged at 4.2%.
Significant job growth was seen in sectors such as healthcare, social assistance, and transportation and warehousing. Retail trade also experienced gains, partly due to workers returning from a strike. However, there was a decrease in federal government employment.
Financial markets remain volatile, as fears of economic slowdown persist following Trump’s stronger-than-expected tariff stance.
On Thursday, the S&P 500 dropped nearly 5%, with investors increasingly worried about recession risks. Analysts had been watching the jobs data to gauge potential labor market resilience amid policy uncertainty.
Wage growth remained steady, with average hourly earnings up 0.3% month-over-month and 4% year-over-year. Average weekly hours increased slightly to 34.2, indicating stable employment levels despite slower hiring. Meanwhile, initial jobless claims fell to 219,000, signaling that layoffs remain low.
Economists caution that the full impact of the tariffs might not yet be evident, with many predicting more pronounced effects in the second quarter. Some suggest that businesses may have already slowed hiring in anticipation of potential disruptions, reflecting growing caution in the current economic climate.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/u-s-employment-data-is-out-heres-what-you-need-to-know/