Mary Daly, President of the Federal Reserve Bank of San Francisco, analyzes the March jobs report, the impact of the Iran conflict on inflation and more on ‘Maria Bartiromo’s Wall Street.’
chairman donald trump On Friday it reported unexpectedly high jobs in March after job losses in February.
“Wishing everyone a very Happy Good Friday and all the best, especially to the 186,000 Americans who gained private sector jobs in the month of March alone!” the President wrote on Friday. “My economic policies have created an extremely powerful engine of economic growth and nothing can slow it down.”
Trump said that “Factory manufacturing jobs are growing as a result of rapid onshoring and increased investment generated by tariffs, while the trade deficit has shrunk by 52% in a year!”
America added 178,000 jobs in MarchThat includes the loss of 8,000 government jobs, according to the Bureau of Labor Statistics.
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President Donald Trump on Friday dismissed a report of unexpectedly high jobs in March following job losses in February. (AP Photo/LM Otero/Associated Press)
This figure is almost three times higher than most economists had forecast.
The gains come after the country lost 133,000 jobs in February.
Unemployment also declined from 4.4% in February to 4.3% in March, while the percentage of adults in the labor force fell to 61.9%, the lowest since November 2021.
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Payrolls numbers for the past two months were revised upward by 34,000 jobs from the January report, up from 126,000 to 160,000; While the February report was revised down by 41,000 from a loss of 92,000 to 133,000 jobs.
Overall, employment in January and February was 7,000 lower than the year before.
President Donald Trump credited his economic policies for March’s positive jobs report. (Chip Somodevilla/Getty Images/Getty Images)
It is not clear how war in iran The jobs numbers will be weighed down going forward as some economists say the March data may not fully reflect the new conflict in the Middle East.
“The data is mostly backward-looking, and likely does not include any impact of recent increases in energy prices, or other related risks. war in iran” Thomas Simons, chief US economist at investment firm Jefferies, wrote in a comment.
health care sector Jobs increased in March as employees returned to work, with 76,400 new jobs added following the end of the Kaiser Permanente strike in February.
“This year will likely be a year of change in labor dynamics artificial intelligence Boosts the job market, especially for low-skilled roles. We continue to see healthy job opportunities for workers with experience, said Jeffrey Roach, chief economist at LPL Financial.
Kaiser Permanente employees are on strike in February. (Mindy Schauer/MediaNewsGroup/Orange County Register via Getty Images/Getty Images)
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“Average hourly earnings rose 3.5% from a year earlier, giving consumers enough purchasing power to recover crippling inflation. “This update on the job market gives the Federal Reserve more time to wait for inflation to subside before taking action,” Roach said.
The latest jobs data did not change market expectations that the Federal Reserve may leave interest rates unchanged for the foreseeable future.
Fox Business’s Eric Revell and the Associated Press contributed to this report.
