No, Says Economist, March US Jobs Report 'Is Not Good'
Common Dreams • • business
Key Points:
- The US Labor Department reported 178,000 jobs added in March, with unemployment slightly falling to 4.3%, driven by gains in construction, healthcare, and transportation, while federal government jobs declined.
- Economists caution that the headline figures mask underlying weaknesses, noting average job growth slowed to 22,500 over the past two months and the unemployment rate drop partly reflects people leaving the labor force.
- Wage growth has been slowing, especially for lower- and middle-income workers, and rising inflation from the ongoing war on Iran is expected to reduce real wages and affordability.
- Federal employment continues to decline sharply, with 352,000 jobs lost since January 2025, impacting essential public services, while manufacturing jobs remain significantly below previous levels.
- Analysts warn that the economic impact of the Iran conflict and rising fuel prices is not yet fully reflected in the data, with expectations of worsening labor market conditions and financial strain on families in coming months.
