Institutions: This Non-Farm Payroll Data Will Reflect the Early Damage Caused by Tariffs
BlockBeats News, on May 2, according to foreign media analysis reports, the U.S. non-farm employment is expected to increase by 165,000 in April, with the breadth of job creation rapidly narrowing. Employment growth may be concentrated in just two industries—construction, and professional and business services. Although the overall data may still show a steady rise, it will reflect early signs of damage caused by the trade war.
The first wave of tariffs implemented in February may have already led to a slowdown in transportation and logistics hiring. With the decline in domestic and international tourism, hiring in the leisure and hospitality industry will be below its typical spring recruitment numbers. (Jin10)
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