Report on March jobs: growth above forecasts, unemployment has increased

The American economy added 228,000 jobs in March, far exceeding forecasts and unemployment has jumped unexpectedly.

Employment growth should be 137,000 and the unemployment rate was to remain stable at 4.1%. Unemployment has increased to 4.2% and has always been at least 4% for almost a year.

The employment of the federal government dropped by 4,000 in March. DOGE and his unofficial chief Elon Musk put pressure for federal large -scale job cuts, with a wave of layoffs for probation employees, who were only during a short period of time, in February and early March.

However, a court decision has taken a grip on many of these cuts, and most of these workers remain in the legal limbo.

The agencies began to develop more extensive plans to reduce the size of their workforce. Thousands of workers from agencies from the Ministry of Health and Social Services should see their job reduced; The endings started on Tuesday.

Workers from other agencies are preparing for the next step. Federal government reductions will probably affect the overall number of jobs in future versions.

The Americans have lost confidence in the American economy, adding to an emerging vibration in the middle of a cooling but always solid labor market.

Data from the University of Michigan show that consumers’ feeling has decreased for the first three months of the year. The current Conference Board situation index, which is based on what people think of commercial conditions and the labor market, have taken a hit, March data are March programs. Consumers do not feel what will happen either.

“Consumers’ expectations were particularly dark, pessimism about future commercial conditions were deepened and confidence in future employment prospects falling to a 12 -year -old hollow,” said Stephanie Guichard, principal economist for the global indicators on the conference board.

The federal reserve uses labor market data as a key contribution for its interest rate decisions. The president of the FED, Jerome Powell, said at a press conference on March 19 after the Federal Open Market Committee decided to hold stable interest rates that unemployment “remains low and was held in a close range for the past year” and that the growth of wages exceeds inflation.

The next interest rate decision planned is in May, which means that much more data on economic activity will be available before the Committee makes its next appeal. CME Fedwatch, who estimates the probability of Fed’s future movements according to market trades, shows that the chances that the rates are stable or to be reduced in May are almost a draw.

Powell declared at the March Press Conference after the interest rate decision that the administration made major changes to trade, immigration, budgetary policy and regulations and is uncertain that this will mean for the economy. Trump announced on April 2 his last price plans, which could mean that consumers could soon face higher prices.

“We don’t need to be in a hurry to adjust our political position, and we are well placed to wait for greater clarity,” said Powell.

It is a story in development. Please check the updates.