TechFlow News, April 2: According to data from JIN10, the U.S. Department of Labor reported on Thursday that seasonally adjusted initial unemployment claims fell to 202,000 last week, indicating continued stability in the labor market for March and low layoff levels. So far this year, initial claims have fluctuated between 201,000 and 230,000—a range consistent with economists’ description of a “low hiring, low layoffs” labor market. Economists attribute this stagnation to persistent uncertainty stemming from former President Trump’s aggressive import tariff policies. Additionally, the one-month conflict between the U.S. and Israel against Iran has introduced another layer of uncertainty for businesses. According to a Reuters survey of economists, nonfarm payrolls in March may rebound by approximately 60,000 jobs; however, some economists caution that this rebound could be temporary, given the more than 50% surge in global oil prices triggered by the conflict. Nancy Vanden Houten, Chief U.S. Economist at Oxford Economics, stated: “We expect the war to delay the modest improvement in the labor market anticipated for this year, as uncertainty, slowing consumer spending, and rising costs prompt firms to pause hiring.”
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