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The US labor market picked up in March as employers showed signs of resilience amid the US-Israel war in Iran.

After an extraordinary contraction in February, employers added 178,000 jobs last month, ahead of economists’ expectations of about 70,000.

The unemployment rate fell to 4.3%, according to data from the US Bureau of Labor Statistics. In February, the economy lost 133,000 jobs, according to revised figures. Job figures for January were revised up, from 126,000 to 160,000. With revisions, total employment in January and February is 7,000 lower than previously reported. .

Previous data painted a mixed picture of the US labor market, which economists say has been in a static “low-fire, low-hire” state, where both layoffs and new hires are down.

Outplacement firm Challenger, Gray & Christmas found that employers announced 217,362 job cuts in the first quarter of 2026 – the lowest total for that period since 2022. But hiring in February slowed to a six-year low, according to data released earlier this week, with dips seen in construction and leisure and hospitality.

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A series of trades worth $800 million made minutes before a Truth Social post from Donald Trump sent markets swinging is an act of treason, one of America's most prominent economists has said.

An entity or several entities traded heavily on S&P 500 and oil futures, making an immense sum of money in the process.

Nobel Laureate Paul Krugman lashed out at the mystery traders.

"When officers of a company or people close to them exploit confidential information for personal financial gain, that's insider trading — which is illegal," Krugman wrote.

"But we have another word for situations in which people with access to confidential information regarding national security — such as plans to bomb or not to bomb another country — exploit that information for profit.

"That word is 'treason'."

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A jury on Friday found that Elon Musk misled Twitter’s shareholders by driving down Twitter’s stock price ahead of his $44 billion acquisition of the company in 2022.

The San Francisco jury were asked if two tweets and comments made by Musk on a podcast showed that he deliberately defrauded the shareholders and drove down Twitter’s stock price. They concluded that the tweets were false and misleading but did not hold him liable for the podcast comment.

The jury also dismissed the investors’ claim that Musk’s tweets and comments amounted to a scheme.

Four of the shareholders sued Musk in October 2022, claiming they suffered major losses as a result of Musk’s comments regarding spam bot accounts on Twitter, now the social platform X. The four shareholders’ lawyers said on Friday that Musk could now be forced to pay former shareholders around $2.5 billion, The New York Times reported.

“This is a great example of what you cannot do to the average investor –– people that have 401ks, kids, pension funds, teachers, firemen, nurses,” Joseph Cotchett, one of the investors’ attorneys, told CNBC. That’s what this case was all about. This was not about Musk. It was about the whole operation.”

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The U.S. economy shed 92,000 jobs in February, the  estimated March 6, falling far short of forecasters' expectations, and signaling the labor market is still in low-hire mode as employers navigate tariff-related inflation pressures, AI adoption, and geopolitical uncertainty.

The February estimate comes in much lower than the BLS’ now-revised gain of 126,000 jobs added in January, which was much higher than the agency’s revised figures for 2025, when U.S. employers added only 181,000 jobs throughout the entire year, or about 15,000 a month.

“The weak jobs report challenges the recent stabilization narrative and puts the Fed in a difficult position, especially as the spike in oil prices adds near‑term inflation pressure,” Angelo Kourkafas, Senior Global Strategist at Edward Jones, said in a note to USA TODAY, adding that economists should avoid over-extrapolating the trend given weather and labor disruptions' potential impact on hiring in February.

He added, “however, with global geopolitical uncertainty elevated, it is reasonable to expect that job growth may remain subdued in the months ahead.”

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The federal trade court judge overseeing the refund process for President Trump’s tariffs ordered the administration Wednesday to   paperwork for imported goods without charging companies for the invalidated levies.

The order from Richard Eaton, a senior judge on the U.S. Court of International Trade, is set to impact millions of tariff entries submitted to the government that were declared illegal by the Supreme Court’s blockbuster decision.

Companies won’t immediately receive money, but the order marks a milestone that moves the laborious process along.

More than 1,000 companies have sued for refunds, hoping the government will now return tens of billions of dollars following the much-anticipated decision. Eaton’s ruling came in the lawsuit filed by Atmus Filtration, but he said the trade court’s chief judge has put him in charge of all cases pertaining to refunds.

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Gov. Kathy Hochul (D) is calling on the Trump administration to refund approximately $13.5 billion to New York residents after the Supreme Court ruled last week that the bulk of President Trump’s tariffs are unconstitutional. 

“These senseless and illegal tariffs were just a tax on New York consumers, small businesses and farmers — and that’s why I’m demanding a full refund,” Hochul, who is up for reelection this year, said in a statement Tuesday.

“I’ll never stop fighting for New Yorkers, and that means staying focused on putting more money back in your pockets — not ripping it away,” she added.

Her office cited Yale Budget Lab estimates that the average New York household shouldered an additional $1,751 in added costs as a result of the tariffs, totaling $13.5 billion for the state. 

The Supreme Court, in a 6-3 decision Friday, delivered a blistering ruling against the Trump administration, rejecting the president’s expanded use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs on nearly every country.

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