00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Federal labor data released Tuesday showed signs of a modest pickup in hiring activity
00:07after more than a year of a low-hire, low-fire environment. While economists warned the Iran
00:13war could threaten that progress, according to CNBC, the hiring rate rose to 3.5% in March
00:192026 from 3.1% in February, marking the fastest pace in two years. Employers added 178,000 jobs,
00:28the highest monthly total since 2024. Hiring expanded beyond health care into transportation,
00:34professional services, and food services. The quits rate edged up to 2%. Higher oil prices from
00:42the Iran war threatened to reduce consumer demand by reducing household spending power,
00:46and businesses are likely to pull back further on hiring intentions due to increased uncertainty.
00:52It is too soon to see any negative spillover effects in the labor data.
00:56But the war could delay a sustained rebound in hiring.
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