The US labor market showed a strong uptick in job gains, with 140,000 new hires beating analysts’ forecasts and solidifying its position as one of the strongest markets in 2025.
According to the latest data, March’s job gains were revised lower than initially reported, but still outpaced expectations. The Labor Department attributed this to some DOGE-related layoffs that have not yet been fully reflected in the report.
Despite a decline in federal government employment and a slowdown in private sector wage growth, average hourly earnings rose 0.3% last month, with private sector workers seeing a 3.8% gain over the past 12 months.
The Federal Reserve is closely monitoring economic indicators, including this jobs report, to assess the impact of President Trump’s trade policy on the economy.
In response to the report, President Trump hailed it as “GREAT JOB NUMBERS” and attributed its success to his policies, which have seen a rise in tariffs. However, Wall Street economists remain cautious, downgrading economic growth forecasts while increasing inflation expectations for 2025.
Source: https://www.axios.com/2025/04/04/joibs-report-march-tariffs-economy