Job offers and hiring in the US were maintained before the impact of the war
Data from the Department of Labor reveals that hirings increased 655,000, to reaching 5,554 million in March
According to the Department of Labor report published this Tuesday, the numbers regarding job offers and hiring in the United States during the month of March, before the development of the war against Iran, remained stable.
In recent years, the labor market has been one of the hardest hit, with a slow hiring rate and an unemployment rate above 4%. However, l The BLS data reveals that in March hirings improved, increasing 655,000, to reach 5,554 million, one of the highest levels since 2024.
For its part, job offers did mark a decrease of 56,000, to stand at 6,866 million during the month of March; its The highest peak was in 2022 with 12.3 million, after a recovery of the economy after the confinement due to the Covid-19 pandemic.
However, in the first quarter of this year, the labor market has experienced fluctuations; since the beginning of the conflict in the Middle East, both the economic outlook for companies and hiring have been cloudy.
For Marc Giannoni, Barclays chief economist for the States, the reading of the Department of Labor report “will be a reassuring signal for the FOMC that demand l aboral remained stable in the early stages of the conflict with Iran, which offers few reasons to flexify policies for risk management reasons,” he told Reuters.
Just like inflation, labor market data is a key indicator for Federal Reserve decisions regarding investment rates. interest, so a stronger labor market could change the perspectives of monetary policymakers for their next meeting.
In this regard, Carl Weinberg, chief economist at High Frequency Economics, commented that “the image of the labor market will change as the economy adjusts to a labor market price.” oil above $100 per barrel, higher inflation, possibly more restrictive monetary conditions, and a global recession beginning in Asia,” he told AP.
This Wednesday the hiring figures by the private sector in the United States were also known; according to data d e ADP, 109,000 jobs were added in April, with the areas of education and health being one of those that employed the most.
The official report by the Department of Labor is expected for this Friday, in which more solid figures are forecasted regarding the increase in employment and a fall in the unemployment rate.