Last week, the number of initial jobless claims in the United States remained almost unchanged, while the number of layoffs in February dropped significantly, which is consistent with the robust state of the labor market.

Data shows that the labor market is regaining its footing after setbacks last year. Economists believe last year's volatility stemmed from uncertainty caused by broad tariffs implemented by Trump under a law intended to address national emergencies. The Federal Reserve's "Beige Book" report released on Wednesday also stated that employment levels have been "generally stable" in recent weeks, with seven out of twelve districts reporting no change in hiring. The report noted, "Contacts in several districts cited rising non-labor input costs, weakening demand, or uncertainty about overall economic conditions as reasons for flat or declining employment levels." Economists are optimistic that, with tax cuts stimulating demand, the labor market will regain momentum this year.