The U.S. economy added more jobs than anticipated in March, with nonfarm payrolls increasing by 228,000 jobs. However, President Donald Trump’s import tariffs pose a potential challenge to the labor market’s resilience in the coming months. The unemployment rate slightly increased to 4.2% from 4.1% in February. While low layoffs and solid wage gains support economic expansion, businesses remain cautious due to uncertain trade policies. Economists warn that reciprocal tariffs could lead to job cuts and reduced consumer spending, with effects possibly visible in April’s employment report. Financial markets expect the Federal Reserve to resume cutting interest rates by June.
— new from Reuters
