# March jobs report: Healthy labor market, slower supply, more volatility

Page: https://stenobird.com/podcast/making-sense-491900/march-jobs-report-healthy-labor-market-slower-supply-more-volatility
Text version: https://stenobird.com/podcast/making-sense-491900/march-jobs-report-healthy-labor-market-slower-supply-more-volatility.md
Podcast: [Making Sense](https://stenobird.com/podcast/making-sense-491900)
Published: 2026-04-03T18:42:09+00:00
Episode link: https://marketmatters.podbean.com/e/march-jobs-report-healthy-labor-market-slower-supply-more-volatility/
Audio file: https://mcdn.podbean.com/mf/web/cpur8fihge72ehqq/0426_RR_March_Jobs_Report_Podcast_FINAL6m2id.mp3
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JSON: https://stenobird.com/v1/public/podcasts/making-sense-491900/episodes/march-jobs-report-healthy-labor-market-slower-supply-more-volatility
Duration seconds: 500

## Resource

In this episode of Making Sense, Mike Feroli, Chief U.S. Economist at J.P. Morgan, joins Sam Azzarello, head of Content Strategy, to unpack the March jobs report and what it signals beneath the headline. They discuss the rebound in hiring after February’s data, early signs that AI may be reshaping the labor market, and what higher energy prices could mean for consumer momentum. The conversation closes with Feroli’s outlook on how the data may shape the Fed’s near-term policy stance and his base-case outlook for the U.S. economy. This episode was recorded on April 3, 2026. This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on…

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