Foreign media: U.S. non-farm employment increased by 178,000 in March, the largest gain in 15 months; February's figure was revised downward to a decrease of 133,000. The unemployment rate fell from 4.4% to 4.3%, but mainly due to 396,000 people exiting the labor force rather than actual improvement in employment.
The healthcare sector contributed the most (an increase of 76,000, including 35,000 workers returning after strikes), construction added 26,000, transportation and warehousing rose by 21,000, and federal government jobs declined again by 18,000. Average work hours dropped to 34.2 hours, while hourly earnings rose 0.2% month-over-month and 3.5% year-over-year.
Economists believe the employment rebound was driven by one-time factors, with risks such as soaring oil prices triggered by the U.S.-Iran war (gasoline exceeding $4 per gallon), supply chain disruptions, and large-scale immigration deportations expected to emerge in the second quarter. The probability of the Federal Reserve cutting interest rates this year has significantly decreased.
Original source: toutiao.com/article/1861468403009545/
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