Kea投 Macro: The non-farm report is not as strong as it appears on the surface

MeNews · 2026-04-03T16:03:50+00:00

Stephen Brown of Capital Economics pointed out that the significant rebound in non-farm employment in March was mainly due to the end of strikes in the healthcare industry and recruitment disruptions in February, rather than a market recovery. He warned that rising oil prices might support the mining industry, but declining consumer purchasing power will suppress demand and impact short-term hiring. Meanwhile, employment in information and financial services has declined, indicating that artificial intelligence is suppressing hiring in some sectors.

MeNews

2026-04-03 16:03:50

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ME News message, April 3 (UTC+8). Stephen Brown of Capital Economics said that the March nonfarm payrolls rebound above expectations mainly reflected the end of a healthcare industry strike and hiring being blocked in February due to weather factors, rather than a signal of a rapid recovery in the labor market. He noted: “Although higher oil prices may ultimately support employment in the mining industry, the more direct risk is that damage to consumers’ purchasing power will suppress demand, thereby affecting hiring in the short term.” Meanwhile, the information industry fell again, and employment in the financial services industry also declined. This further confirms the trend that artificial intelligence is suppressing hiring in certain industries—especially in professional services, where new positions totaled only 2,000, but computer systems design positions decreased by 13,200. (Jin10) (Source: ODAILY)

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