讀後心得

In March, the United States saw a surge of 228,000 in new jobs, while the unemployment rate rose to 4.2%, indicating a gradual cooling of the labor market. The new jobs were primarily in the healthcare, social assistance, and transportation sectors. Although the number of layoffs remained stable, companies' willingness to hire has been affected by Trump's tariff policy. Experts predict that the unemployment rate may exceed 4.5% in the coming quarters. The government's efficiency department has also accelerated workforce reductions, and the impact on the job market will be reflected in upcoming reports.

While the U.S. President's reciprocal tariffs shake the globe, the employment report crucial to the Federal Reserve's (Fed) interest rate decisions was released on the 4th. The U.S. added 228,000 jobs in March unexpectedly, but the unemployment rate also rose to 4.2%. Despite the latest employment report not being as weak as the market expected, experts still warn that the impact of large-scale layoffs due to government spending cuts will continue to unfold, and tariff policies may lead to an economic recession, weakening companies' hiring intentions, resulting in a continued cooling of the labor market.

According to data released by the U.S. Department of Labor, non-farm payrolls increased by 228,000 in March, far exceeding February's revised figure of 117,000 and the market expectation of 135,000. However, the data for January and February was revised down by a total of 48,000, offsetting some of the increase in March. In addition, the unemployment rate rose from 4.1% in February to 4.2% in March. The report showed that the new jobs in March mainly came from healthcare, social assistance, transportation, and warehousing. Employment in retail also increased, indicating that striking workers have returned to their jobs.

At the same time, employment in the government sector declined again. A certain department is significantly reducing the workforce of federal agencies, with government employment decreasing by 11,000 in February and a further 4,000 in March. Currently, various employment indicators show that the U.S. labor market is gradually cooling, but it is not rapidly shrinking. The pace of hiring has slowed, but layoffs remain at low levels.

The Labor Department reported on the 3rd that initial claims for unemployment benefits fell from 225,000 the previous week to 219,000. Most tariff measures had not yet taken effect in March, but there are expectations that more tariff plans may be announced, which could have already affected companies' hiring intentions. Economists pointed out that the impact of reciprocal tariffs may be reflected in the April employment report. They indicated that as the labor market worsens and corporate hiring weakens, the unemployment rate could surpass 4.5% in the coming quarters of this year.

An economist pointed out in the report, "Layoff plans and restrictions on immigration will be more clearly reflected in the second quarter employment report."

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