The U.S. saw a decline in initial jobless claims last week, with the labor market holding steady in its low hiring and low firing trend.

BlockBeats News, April 2nd - Data released by the US Department of Labor on Thursday showed that the number of new applications for unemployment benefits last week dropped to a seasonally adjusted 202,000, indicating a stable labor market in March with low levels of layoffs. So far this year, initial claims have been fluctuating in the range of 201,000 to 230,000, consistent with the "low hiring, low firing" characteristic as described by economists. They attribute the labor market stagnation to the ongoing uncertainty caused by Trump's aggressive import tariff policies. Additionally, the one-month war between the US and Israel against Iran has added another layer of uncertainty for businesses.

According to a Reuters survey of economists, nonfarm payrolls in March are expected to rebound by around 60,000 jobs, but some economists warn that due to the conflict leading to a global oil price surge of over 50%, this rebound may be temporary. Nancy Vanden Houten, Chief US Economist at Oxford Economics, stated, "We expect the war to slow the modest improvement in the labor market expected earlier this year as businesses pause hiring due to uncertainty, slowing consumer spending, and rising costs." (Golden Finance)