Institutions: US Job Market May Gradually Recover This Month After February's Slump
Svmuu According to economists, the US job market may have rebounded in March, following one of the largest declines in employment data since the pandemic. It is estimated that 60,000 new jobs were added this month, after a loss of 92,000 jobs in the previous period. The unemployment rate is expected to remain at 4.4%. Employment has not shown growth for several consecutive months since May of last year, indicating a lack of significant hiring momentum in the labor market, but also no signs of concerning deterioration. Against the backdrop of limited job opportunities, the war in the Middle East has reignited inflation concerns among Americans due to a sharp rise in gasoline prices. Economists point out that after disappointing employment figures in February—where job numbers in construction and the leisure and hospitality sectors likely declined due to weather conditions—employment is expected to rebound in March. With over 30,000 employees at Kaiser Permanente ending their strike, job numbers in the healthcare sector may also see an increase. (Jin10)
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