March Unemployment Rate at 3.35% Hits 25-Year Low, National Bureau Says Employment Unaffected by Tariffs

The National Bureau of Statistics announced that the unemployment rate in March rose slightly to 3.35%, marking the lowest rate for the same month in nearly 25 years. Influenced by post-New Year job shifts, the Bureau reported on the 22nd that although the unemployment rate increased by 0.01 percentage points compared to February, it still achieved a new low for the same month in 25 years.
According to statistics, the number of employed individuals in March was 11.61 million, a decrease of 6,000 from the previous month, while the number of unemployed was 403,000, an increase of 1,000 month-on-month. Among these, the number of individuals who became unemployed due to dissatisfaction with their previous jobs increased by 3,000, while the number of first-time job seekers decreased by 2,000. Compared to the same month last year, the number of unemployed individuals still decreased by 2,000.
Officials interpreted that the labor market remains stable. Although U.S. President Trump announced equal tariffs on April 2, causing fluctuations in global stock markets, officials from the Bureau stated that the employment situation in March was not affected by these equal tariffs. While the U.S. has temporarily postponed enforcement for 90 days, the uncertainty remains high, potentially impacting overtime and regular working hours. Historically, the unemployment rate in April is expected to be lower than that in March, but equal tariffs pose a significant variable to the labor market.