The March jobs report is in, and hiring in the U.S. surprised economists with 228,000 jobs added during the month. For the record, experts were expecting 140,000 jobs to be added in March. Some analysts took an even more pessimistic stance, such as Citi, with its lowered estimate of 90,000 jobs.
Even with the U.S. adding more jobs than expected, unemployment increased from 4.1% in February to 4.2% in March. That’s connected to the actions of the Department of Government Efficiency (DOGE). The Elon Musk-led agency slashed a massive 216,000 federal employees last month in an ongoing campaign to decrease government spending.
What Does the Jobs Report Mean for the U.S. Economy?
This latest jobs report is a bright spot compared to the other issues the U.S. economy faces right now. That includes a stock market crash as investors sell shares following President Donald Trump’s Liberation Day. The President announced massive tariffs during this event, escalating the trade war and stoking investor fears.
Unfortunately, investors are unlikely to be encouraged by the March jobs report. That’s because the data comes from March, while Trump’s tariffs were announced in April. As such, many experts and investors will likely view the data as already outdated.
What’s Next for the U.S. Economy?
JPMorgan analysts came together to answer that question in a new report titled “There will be Blood.” In this report, the analysts increased the possibility of a global recession from 40% to 60%. They argue that the world economy won’t be able to resist the effects of President Trump’s tariffs.
Investors who want to keep up with all the latest data can do so with the TipRanks economic calendar. There’s also an economic dashboard that provides traders with all of the latest data on the U.S. economy and news covering it.
