The labor market remained solid in March, with a decrease in employment opening, but the dismissals went back to a minimum record, while the new hiring rates were slow but stable, according to the data published by the Labor Office on Tuesday.
Last Mondh’s numbers are a snapshot of the state of the United States economy and labor market before the start of world commercial volatility caused by President Trump’s tariff campaign.
“It reflects a labor market that ‘could have been’, given the damage tariffs,” said Guy Berger, director of Economic Research at the Burning Glass Institute, who studies the labor market. “We have the basis of a labor market stabilization,” he added, “but commercial policy has other ideas.”
The predominant environment before April or modern hiring and few shots was not easy for active employment applicants, especially in certain sectors such as technology and manufacturing. But the stability of the general labor market was undeniable, so much that some labor economists began to worry that the conditions limited with stagnant.
Now, the economy faces a set of radically different challenges.
The feeling of the consumer has taken since January, when the White House announced import taxes, since the fears of employment loss and greater inflation have increased between homes and the main business leaders.
The effects of tariffs on shipping have not yet felt completely. But experts in global load logistics, such as Craig Fuller, the founder of Freightwaves, hope that it changes in the next few days and weeks as companies face tariffs that go from 10 percent to more than 120 percent in many Chinese products.
The federal work inauguration decreased by 36,000 in March, as a result of the pronounced cuts of the Trump administration for the Federal Civil Service. And in the general labor market, the job opening fell by 288,000. Some financial analysts focus on a broader pre-tarifa deceleration of months.
“The main story is that the employment opening has decreased,” said Neil Dutta, head of the Economics of the Renaissance Macro research firm. “We are at the point where the opening decreases to inemployent thrust.”
The job report for April will help complete part of the economic image. Economists hope that they have not changed to a large extent and that the modern growth of employment has continued. But the forecasts are preparing by surprises due to the uncertainty surrounding tariffs.
The employment image and consumer spending are still brilliant for now, a point that Treasury Secretary Scott Besent has emphasized their public comments.
But many analysts, including Daniel Altman, the chief economist of Instawork, a job search and recruitment site, are fashionable.
“I think the job report will be more revealing,” Altman said.
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