OAN Staff James Meyers
12:25pm – Friday, April 4, 2025
The most recent employment report for March exceeded expectations, as the Trump administration commended the figures.
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US employers created a remarkable 228,000 jobs in March, which surpassed the 151,000 jobs added in February following several federal layoffs initiated by the government’s Department of Efficiency (DOGE).
President Donald Trump expressed his approval of the current report on his truth social platform.
“It’s much better than I anticipated. It’s already bearing fruit. Give it your all and you won’t fail!!!” remarked the president.
According to Reuters, a survey of economists expected the addition of 135,000 jobs in March.
The healthcare, transportation, and warehousing sectors have seen significant job growth.
However, some business owners and managers are reluctant to expand their workforce at this moment due to concerns regarding Trump’s tariff strategies.
“On the surface, it appears to be a stable and robust job market. But a closer examination reveals that employers are wary across nearly every sector,” said Ger Doyle, county manager at ManPower Group Company, a labor solution firm.
Trump insists that his mutual tariffs, which include a 10% baseline tax on all imports, and higher duties for certain nations can be negotiated down effectively.
“Businesses are concentrating on keeping their current staff, but if uncertainty persists, they may need to reorganize their operations for now,” Doyle added.
Private sector payrolls saw an increase of 209,000 jobs in March, far exceeding the 127,000 economists had forecasted, potentially providing temporary relief to financial markets currently “struggling” with tariff discussions.
“Even amidst tariff uncertainty and federal job cuts, the economy is still generating jobs, but the statistics seem misleading and don’t clarify how employers will sustain this in the coming months,” stated Glenn Smith, chief investment officer at GDS Wealth Management.
At present, the Fed’s policy interest rate is between 4.25% and 4.50%.
Federal Reserve Chairman Jerome Powell is expected to address the public later Friday, as Trump urges cuts to interest rates.
“This is the perfect moment for Fed Chairman Jerome Powell to lower interest rates. He has a history of being ‘late’, but he can quickly change his reputation,” Trump remarked in a post on Truth Social. “Energy costs will drop, interest rates will lower, inflation will decrease, egg prices will fall by 69%, and job numbers will rise in two months. A significant victory for America.
However, Powell later indicated on Friday, as reported by a business journalist in Arlington, Virginia, that the Fed is “well positioned to wait longer” before making decisions such as reducing interest rates. He also noted that the obligations stated were “much higher than anticipated.”
Central bank officials mentioned they would keep rates steady during their last meeting in March, with Powell intending to observe inflation metrics for signs of escalating price pressures, including those induced by tariffs.
Estimates for Gross Domestic Product (GDP) growth in the first quarter are less than 0.5% annually.
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