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U.S. Labor Market Shows Resilience as Private-Sector Hiring Surges in March

Despite cooling job openings and rising federal layoffs, March saw a stronger-than-expected addition of 155,000 private-sector jobs ahead of President Trump's tariff announcement.

President Donald Trump’s fast-moving policy actions are expected to ripple through the private sector, potentially stifling growth.
A "we're hiring" poster is seen in a window as people visit a retail store during the holiday season in New York City, U.S., December 21, 2022. REUTERS/Eduardo Munoz/File Photo
Flags fly over the Federal Reserve Headquarters on a windy day in Washington, U.S., May 26, 2017. REUTERS/Kevin Lamarque/File Photo

Overview

  • Private-sector hiring rebounded in March with 155,000 jobs added, surpassing economists' expectations of 115,000, according to ADP's National Employment Report.
  • Wage growth for job changers fell to 6.5% in March, the lowest level since 2020, reflecting a less dynamic labor market.
  • Federal layoffs increased significantly in February, reaching their highest level since 2020, as part of broader government workforce reductions.
  • President Donald Trump is set to announce new global reciprocal tariffs on April 3, 2025, raising concerns among economists about potential inflation and heightened recession risks.
  • Job openings declined to 7.568 million in February, with economists attributing the drop to economic uncertainty linked to tariff policies.