U.S. Employers Likely Added a Solid 65,000 Jobs Last Month Despite Uncertainty Arising From Iran War
Healthcare added 360,000 jobs over the past year as other industries cut 120,000, highlighting an uneven labor market.
- The Labor Department report expected Friday shows employers added 65,000 jobs last month, according to FactSet, down from a surprisingly strong 178,000 in March.
- Healthcare, catering to an aging American population, added 360,000 jobs over the past year, while other employers combined to cut 120,000 jobs during the 12 months that ended in March.
- Payroll processor ADP reported Wednesday that private employers added 109,000 jobs in April. Matthew Martin of Oxford Economics says the break-even point for keeping unemployment stable is now near zero.
- President Donald Trump's immigration crackdown and $100,000 H-1B visa fee strain rural and poor urban hospitals relying on foreign doctors and nurses. Diane Swonk, chief economist at KPMG, wrote that many rural hospitals have already closed.
- Heightened uncertainty from the Iran war, which sent average gasoline prices surging past $4.50 a gallon, could reverse hiring momentum, Martin warned. Fiscal stimulus from tax refunds will eventually wane, pressuring future job growth.
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17 Articles
US labor market holds steady despite Iran war
Employers in the world’s largest economy are shrugging off the uncertainty brought on by the Iran war and higher energy prices – at least for now. Experts expected roughly 65,000 jobs to be added last month, a significant slide from the 185,000 in March. But if higher gas prices persist, and Americans pair back spending, economists say that could weaken job creation and lift the unemployment rate down the line.
U.S. likely gained 65,000 jobs in April, despite uncertainty from war in Iran
The Iran war has caused the biggest disruption of global oil supplies in history and sent average U.S. gasoline prices surging past $4.50 a gallon this week.But the conflict hasn’t done much damage to the American job market – at least not yet.When the Labor Department’s report on April hiring and unemployment comes out Friday, it’s expected to show that U.S. companies, nonprofits and government agencies together added 65,000 jobs last month, ac…
U.S. Employers Likely Added a Solid 65,000 Jobs Last Month Despite ...
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The IndependentUS employers expected to add a solid 65,000 jobs in April despite soaring energy costs from Iran war
The Iran war has caused the biggest disruption of global oil supplies in history and sent average U.S. gasoline prices surging past $4.50 a gallon this week. But the conflict hasn’t done much damage to the American job market –…
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