BlockBeats message. On April 2, the U.S. Department of Labor released data on Thursday showing that the number of new unemployment benefit claims filed last week fell to 202,000 seasonally adjusted, indicating that the labor market in March remained stable and that layoff levels were low. Since the start of this year, the number of initial claims has been fluctuating in the range of 201,000 to 230,000, consistent with the “low hiring, low layoffs” characteristics economists have described. They attribute labor market stagnation to the ongoing uncertainty brought by Trump’s aggressive import tariff policies. In addition, the one-month war between the U.S. and Israel against Iran has added another layer of uncertainty for businesses.
According to a Reuters survey of economists, March nonfarm payrolls may bounce back by about 60,000 jobs, but some economists warn that, due to the conflict causing global oil prices to surge by more than 50%, this rebound may be temporary. Nancy Vanden Houten, chief U.S. economist at Oxford Economics, said: “We expect the war will delay the modest improvement in the labor market that we originally anticipated for this year. Due to uncertainty, slowing consumer spending, and rising costs, businesses will pause hiring.” (Jin 10)
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