March Job Gains Mask a Volatile Labor Market as Iran War Chaos Mounts
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Today’s jobs report shows the labor market added 178,000 jobs in March, and February’s losses significantly revised down, revealing a decrease of 133,000 jobs. The unemployment rate remained mostly unchanged at 4.3%, with unemployment at its weakest pace since 2020. As hiring stalls, the share of workers who say it’s harder to find jobs has increased sharply, and the number of workers who have given up on the labor market entirely increased by 40% in the last month alone. Paychecks are stalling
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