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March jobs report shows mixed signals with the number of jobs added exceeding expectations, slight unemployment increase, and sentiment declining across multiple indicators despite a resilient labor market.
Key Takeaways The labor market remained stable with the latest JOLTs update. Job openings, hires, and quits remained mostly unchanged. Today’s B.L.S. report surpassed expectations, with 228,000 jobs added. According to the Challenger Report, U.S. employer layoffs rose 60% month-over-month, driven almost entirely by the Department of Government Efficiency (DOGE). Unemployment climbed slightly to 4.2%. Tariff uncertainty makes planning difficult for businesses and consumers and may cause a short-term drag on the labor market. Sentiment is down across multiple key indicators, including job seekers, employees, consumers, and some business leaders. Recruiting remains highly competitive—especially in healthcare and other supply-constrained sectors.
