Capital Macro: March US employment data may not be as strong as it seems at first glance.

Stephen Brown of Capital Economics said that the rebound in employment numbers in March exceeded expectations, mainly reflecting the reversal of the strike among healthcare workers in February and the impact of weather factors that had suppressed recruiting activities, rather than signs of the labor market gaining momentum rapidly. He said, "Although rising oil prices should eventually support employment in the mining sector, the more immediate risk is that the impact on consumer purchasing power will put pressure on demand in the short term, affecting hiring." He also mentioned that employment in the information industry once again declined, and there was also a decrease in employment in the financial services sector. Brown stated that these trends confirm the belief that AI is suppressing recruiting in certain industries, "especially the modest increase of 2,000 jobs in the professional services sector masks the fact that employment in computer systems design has decreased by 13,200 jobs."