The U.S. economy added far more jobs than expected in March, but President Donald Trump's sweeping import tariffs could test the labor market's resilience in the months ahead amid sagging business confidence and a stock market selloff.
The Labor Department's closely watched employment report on Friday suggested steady momentum in the economy before the Trump administration's reciprocal duties announced this week, which unleashed threats of retaliation and rattled global financial markets. China on Friday announced a slew of countermeasures.
"This is a drop of good news in a sea of uncertainty, a footnote given the barrage of activities this week," said Olu Sonola, head of U.S. economic research at Fitch Ratings. "However, this is looking in the rear-view mirror, next month's jobs report will be more consequential."
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