BlockBeats News, March 27th - Last week, the number of new jobless claims in the United States saw a slight decrease, while the unemployment rate appeared to hold steady in March. The low layoff rate has mitigated the impact of a significant slowdown in hiring, keeping the labor market on a solid footing and the economic expansion on track. However, Trump's aggressive trade policy, as well as ambitious efforts to significantly reduce the size of the federal government through sharp spending cuts and large-scale layoffs, have cast a shadow over the economy.
While the number of federal government employees applying for unemployment benefits has not increased significantly, the number in the Washington metropolitan area (including parts of neighboring Maryland and Virginia) has risen. This likely reflects layoffs of contractors and other individuals reliant on government funding. A survey released by the World Mega-Corporation Association on Tuesday showed a slight improvement in consumer sentiment regarding the labor market in March, with economists expecting the unemployment rate to remain stable at 4.1% this month. (FXStreet)
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