讀後心得

External reports indicate that U.S. job growth in March exceeded expectations, reaching 228,000, while the unemployment rate slightly rose to 4.2%. The data shows that the labor market remains healthy. Despite facing challenges from increased tariffs, the healthcare, transportation, and leisure industries drove non-farm employment growth, and the retail sector rebounded. However, Wall Street experts predict that the U.S. will face the risk of economic recession, and the Federal Reserve may need to consider lowering interest rates in response to economic changes. The federal government's non-farm employment numbers have declined for the first time since 2022.

According to reports from foreign media, recently released data shows that employment in the United States grew beyond expectations in March, while the unemployment rate slightly increased, indicating that the labor market remains healthy before the global economy was broadly impacted by tariffs.

Data released by the U.S. Bureau of Labor Statistics last week showed that non-farm employment increased by 228,000 in March, surpassing the economic experts' estimate of 140,000. The data for the previous two months was revised downward. The unemployment rate slightly rose to 4.2% in March, while the labor force participation rate increased, and wage growth remained stable.

Traders still estimate that there is about a 50% chance the Federal Reserve will lower interest rates by 25 basis points at the meeting in May, and they have fully considered the possibility of four rate cuts before the end of the year. This data report indicates that the labor market remains healthy before U.S. President imposed tariffs.

However, many economic experts currently indicate that the United States faces a risk of recession this year and predict that the unemployment rate and inflation rate will rise. These expectations put the Federal Reserve in a more challenging situation, as policymakers may need to provide a cushion for the economy, which would mean either lowering interest rates or keeping high borrowing costs to curb inflation.

Data shows that healthcare, transportation and warehousing, as well as the leisure and hospitality industries led the growth in non-farm employment, while the retail sector showed a rebound in employment. As the U.S. efficiency department advances its plan to reduce federal employees, non-farm employment in the federal government has experienced consecutive declines for the first time since 2022. The U.S. Bureau of Labor Statistics pointed out that employees on paid leave or receiving severance pay are also considered employed persons.