The hiring of the United States increased in March, exceeding the expectations of economists and challenging concern on Wall Street about a possible economic recession, government data showed on Friday.
The United States added 228,000 jobs in March, according to data from the United States Labor Statistics Office. That figure marked a significant increase in hiring in the previous month.
The new report provided a snapshot of staff cuts imposed by the federal government last month amid the cost reduction efforts made by the Government Efficiency Department.
Construction workers help build a condominium tower, February 10, 2025, in Miami.
Joe Raedle/Getty images
Despite the growing commercial tensions and the turbulence of the market since Trump assumed the position in January, the economy remains solid by several key measures.
The unemployment rate is at a historically low level. Meanwhile, inflation is well below a peak reached in 2022, although price increases register almost a higher percentage point than the 2%Fed objective.
“The economy is strong,” said Fed president Jerome Powell, at a press conference in Washington, DC, last month.
The tariffs announced earlier this week, however, threaten to derail the hiring and worsen inflation, previously told ABC News.
Long -ranking taxes increase the probability of a recession by increasing prices, refining consumer spending, slowing down business activity and risking layoffs, they said.
President Donald Trump talks to the members of the media before addressing Marine One at the White House South Law on April 3, 2025 in Washington, DC.
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The White House plans to apply a 10% tax on all imported products and place additional tariffs on the items of some of the largest commercial partners of the United States, including China and the European Union.
“These policies, if they are maintained, would probably push the economy of the United States and the recession this year,” said JP Morgan in a note to customers after the fee announcement.
“The recession risks will probably increase,” Deutsche Bank added.
The US actions sank Thursday in the first negotiation session after Trump announced the new rates.
The Dow Jones Industrial Avenge collapsed 1,679 points, or almost 4%, while the nasdaq heavy technological decreased almost 6%.
The s& P 500 fell 4.8%, marking its worst negotiation day since 2020.
