US Hiring Expected To Have Slowed In March As Economic Outlook Dims

US employers probably tempered their hiring in March, just as consumers grew increasingly cautious and the economic outlook dimmed on concerns about the fallout from higher tariffs.

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WASHINGTON -

Payrolls rose by 138,000, below the 151,000 increase a month earlier, according to a median projection of economists surveyed by Bloomberg. This would leave average job growth over the past three months at the slowest pace since October 2024. The unemployment rate is seen holding at 4.1 per cent.

The latest report card on the labour market follows data that indicates a notable first-quarter slowing in the economy. Personal spending barely rose in February after a January slump, disposable income growth remained soft, and March consumer sentiment sank on fears of mounting inflationary pressures.