Analysts: U.S. Job Market May Gradually Improve After February's Slump

On March 29, it is anticipated that the U.S. employment situation may see a rebound in March, following one of the largest declines in employment data since the pandemic. Economists estimate that after a reduction of 92,000 jobs, there will be an addition of 60,000 jobs this month. The unemployment rate is expected to remain at 4.4%. Since May of last year, the number of employed individuals has not increased for several months, indicating a lack of significant hiring momentum in the labor market, but there are no alarming signs of deterioration. Against this backdrop of limited job opportunities, the ongoing conflict in the Middle East has reignited concerns among Americans regarding inflation, particularly due to a sharp rise in gasoline prices. Economists point out that after disappointing employment data in February—where employment in construction and leisure and hospitality sectors may have declined due to weather conditions—March is expected to see a rebound in employment numbers. Additionally, with over 30,000 employees of Kaiser Permanente ending their strike, there may also be growth in employment within the healthcare sector.