Jobs Report Friday to Show Iran War's Impact on US Economy
The March jobs report comes out Friday, showing how the Iran war affected US hiring. Economists expect 65,000 new jobs, a rebound from February's loss of 95,000 positions.
The Labor Department releases the March jobs report Friday, offering the first clear look at how the Iran war has affected American workers and businesses.
Economists surveyed by Bloomberg expect the US added 65,000 jobs in March. That would reverse February's surprise drop of 95,000 positions, which happened as the US-Israel war on Iran began weighing on the global economy.
The conflict has triggered one of the worst global oil shocks in decades. Oil prices have surged more than 40%, hitting businesses and consumers with higher costs for gas, shipping, and other essentials.
"We're in a period of uncertainty, much like in 2025 with tariffs," Oxford Economics senior US economist Matthew Martin told CBS News. "Companies weren't sure what their cost structure was going to be, which led them to delay hiring."
Despite the economic uncertainty, jobless claims have actually fallen recently. This suggests companies aren't firing workers yet, but they may be holding off on new hires until the situation becomes clearer.
The surprisingly weak February employment numbers add to concerns about how long the war's economic effects might last.
The war with Iran has pushed oil prices up more than 40%, making gas and other costs higher for families. Companies are delaying hiring because they don't know what their costs will be, which could mean fewer job opportunities.
The March jobs report releases Friday. Watch for whether hiring actually rebounded or if companies continued delaying new positions.
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