Capiatal Economics: The March nonfarm payrolls rebound was driven by the end of the medical strike and weather-related factors, while AI continued to suppress hiring in some industries

Gate News message, on April 3, Capital Economics analyst Stephen Brown interpreted the March nonfarm payrolls employment report. He pointed out that the above-consensus rebound in March nonfarm job openings was mainly attributable to the end of a strike in the healthcare sector and hiring being held back in February due to weather-related factors. Stephen Brown said: “Although higher oil prices may ultimately support employment in the mining industry, the more direct risk is that a hit to consumers’ purchasing power will suppress demand, thereby affecting hiring in the near term.” Data showed that employment in the information industry fell again, and employment in the financial services industry also declined. In addition, only 2,000 new positions were added in the professional services industry, but computer systems design jobs decreased by 13,200, further confirming the trend that artificial intelligence is suppressing hiring in some sectors.

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