Kea投 Macro: The non-farm report is not as strong as it appears on the surface

MeNews · 2026-04-04T19:37:22+00:00

Stephen Brown of Capital Economics pointed out that the significant rebound in non-farm employment in March was mainly due to the end of strikes in the healthcare industry and recruitment disruptions in February, rather than a market recovery. He warned that rising oil prices might support the mining industry, but declining consumer purchasing power will suppress demand and impact short-term hiring. Meanwhile, employment in information and financial services has declined, indicating that artificial intelligence is suppressing hiring in some sectors.

MeNews

2026-04-04 19:37:22

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ME News update: On April 3 (UTC+8), Stephen Brown of CAPE Macro said that the March nonfarm employment positions rebounding above expectations mainly reflects the end of strikes in the healthcare industry and hiring being held back in February due to weather-related factors, rather than a signal of a rapid rebound in the labor market. He noted: “Although higher oil prices may ultimately support mining employment, the more direct risk is that damage to consumers’ purchasing power will curb demand, thereby affecting hiring in the near term.” Meanwhile, employment in the information industry declined again, and jobs in the financial services sector also fell, further confirming the trend that artificial intelligence is suppressing hiring in parts of the industry—especially as new positions in the professional services sector totaled only 2,000, but computer systems design positions decreased by 13,200. (Jin Ten) (Source: ODAILY)

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