June 14, 2024

The US economy created 103,000 jobs in March; Unemployment rate remains at 4.1 percent.

President Trump has focused heavily on tariffs, which worries some employers. (AP Photo / Susan Walsh)

The US economy created 103,000 jobs in March, the Bureau of Labor Statistics reported on Friday.

The unemployment rate remained at 4.1 percent and wage growth rose slightly by 2.7 percent from March 2017.

There is now a job vacancy for every unemployed in the country, so should be heavier Pay increases on the way, said Dan North, chief economist at Euler Hermes North America, a credit insurance company

“It’s a pretty solid industry overall,” he said, although job creation slowed down from an unusually large outbreak of 326,000 jobs.

The proportion of Americans who are employed or looking for work has increased this year. This is good news for economists who expect the labor force to return to about 66 percent before the recession. It was 62.9 percent in March, a slight improvement from 62.7 percent in January.

Mark Hamrick, chief economist at Bankrate.com, said the economy is unlikely to produce more than 300,000 jobs each month as a workforce, and the market is getting tighter. This year, the unemployment rate remained at 4.1 percent, a 17-year low.

“It’s not out of the way that we could see an unemployment rate of just 3.5%, most recently seen in 1969 when the Beatles were still making hits,” he said in an e-mail.

But some companies have expressed concern about the negative impact of their trade tensions on their businesses (Trump announced last month to lower tariffs to $ 50 billion) In Asian imported goods, the Asian giant caused on Wednesday ] Among other taxes on US soybeans, pork and cars. On Thursday, Trump ordered that its chief trading negotiator consider introducing another $ 100 billion in tariffs on Chinese products.)

Two employer surveys released this week by the Supply Management Institute, a trading group in Arizona, uncertainty about trade already found rattling businesses.

Respondents in the Construction Industry said ISM that “accurate, long-term planning has become incredibly difficult, as traders who have spent at least 30 days in the past now commit to only seven days, as prices can change dramatically during this time. “

The manufacturers reported that last month’s tariffs imposed on steel and aluminum by Trump raised prices, caused” panic buying “and led to” stock shortages “resulted. [19659013] Yet, Becky Frankiewicz, President of ManpowerGroup North America, said last year’s jobseeker was associated with some 300,000 jobs, indicating that growth in the economy is strong.

Companies created 241,000 jobs in March, with construction, manufacturing and transportation leading the way Growth [ADD] said on Wednesday in a separate estimate

Meanwhile, production grew by 31,000 jobs in February. Most came from transport (8,000) and metal products (6,000), as shown by last month’s figures.

The specialist retailers posted profits of 38,000 positions, while the number of assembly works increased by 16,000. (The construction sector as a whole has created 180,000 jobs in the last four months.)

Concern over tariffs has not dampened demand for workers, Frankiewicz said, but they could keep wages low.

“We’ve heard from customers who say,” We could do something with wages, but we’re waiting to see the impact of tariffs on prices, “she said.” Uncertainty is delaying some investment. “