US Stock Market | US job market likely thawed out this month after Feb chill

US employment probably rebounded in March after one of the biggest pullbacks in payrolls since the pandemic, extending a string of volatile readings.

Economists estimate 60,000 jobs were added for the month following a 92,000 decline, according the median of a Bloomberg survey ahead of Friday’s report. The jobless rate is seen holding steady at 4.4%.

Payrolls haven’t increased in consecutive months since May of last year, illustrating a labor market that lacks any notable hiring momentum but also few signs of a concerning deterioration. Against this backdrop of limited job opportunities, war in the Middle East has rekindled Americans’ concerns about inflation as gasoline prices jump.

Economists are penciling in a bounce back in March payrolls after disappointing February results that included possible weather-related declines in construction as well as leisure and hospitality employment. Health care payrolls may also push higher following the end of a strike by more than 30,000 Kaiser Permanente employees.

Subdued employment growth and added price pressures will put consumer resilience to the test.

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