By Arlenys Tabare
According to the Department of Labor report published this Tuesday, the figures 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, BLS data reveals that hiring improved in March, increasing by 655,000, reaching 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 highest peak was in 2022 with 12.3 million, after a recovery of the economy after 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 prospects for companies and hiring have been clouded.
For Marc Giannoni, chief economist for the United States at Barclays, reading the Department of Labor report “It will be a reassuring signal to the FOMC that labor demand remained stable in the early stages of the conflict with Iran, which offers little reason to relax policies for risk management reasons,” he told Reuters.
Like inflation, labor market data is a key indicator for the Federal Reserve’s interest rate decisions, so a stronger labor market could change policymakers’ outlook for their next meeting.
In this regard, Carl Weinberg, chief economist at High Frequency Economics, commented that “The picture of the labor market will change as the economy adjusts to an oil price above $100 per barrel,” higher inflation, possibly tighter monetary conditions and a global recession beginning in Asia,” he told the AP.
This Wednesday the hiring figures by the private sector in the United States were also known; According to ADP data, 109,000 more jobs were added in April, with the areas of education and health being one of the most employed.
The official report from the Department of Labor is expected this Friday, in which more solid figures on the increase in employment and a drop in the unemployment rate are expected.
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