What to expect from the March jobs report — and when the war could hit hiring | CNN Business

The March jobs report, due out Friday morning, could bring a much-needed reality check after two months of wild swings in the US labor market. But even if a level or baseline is achieved, and clarity is gained as to the health of the labor market, it’s a whole new ballgame now. The Middle East conflict, which looks set to stretch into its sixth week, and the resulting supply crunch from a choked-off Strait of Hormuz, are delivering shockwaves throughout the globe. Americans immediately saw an increase in prices at the pump; businesses watched transportation costs skip higher; and fears have heightened that the war’s fallout could quickly metastasize throughout the economy. The sprawling conflict, which started when the US and Israel launched strikes against Iran on February 28, is not expected to have a major effect on the March employment numbers. The surveys that underpin the report are conducted mid-month, so they’ll likely capture the first part of the war. Additionally, economists weren’t anticipating much immediate negative impact, noting that uncertainty could result in paused hiring plans versus outright job cuts. That could change, however, given the duration an