The March jobs report, set to be released at 8:30 a.m. ET Friday, 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;