US Hiring Jumps to Two-Year High as Labor Market Stabilizes
US hiring rose to a two-year high in March as the labor market stabilized. Job openings reached 6.87 million despite new risks from the conflict with Iran.
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The United States hiring rate rose to 3.5% in March as employers added 655,000 workers, the largest monthly gain since May 2020. This surge followed a sharp February decline and occurred despite job openings slipping by 56,000 to 6.866 million. Stable labor demand suggests the FOMC will maintain interest rates between 3.50% and 3.75% into 2027.
