The Brian Lehrer Show March's Jobs Report and What it Means for NYC
Apr 3, 2026
Greg David, fiscal and economic analyst and CUNY journalism program director, breaks down March’s payroll bounce and what it means for NYC. He walks through which sectors led gains, cautions about one-month spikes, and discusses healthcare, manufacturing, small business pressures, AI’s hiring effects, and risks from geopolitical and budget shifts.
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Iran War Raises Prices With Lagged Job Effects
- The war with Iran raised oil and fertilizer prices, which will increase near-term inflation and hit many industries including farming.
- Greg says employment impacts from the war will appear with a lag and could show up by summer if consumer cutbacks follow price spikes.
Rely On BLS Data But Watch For Changes
- Trust the BLS jobs data for now because it's produced by professional surveys, despite political turnover and collection problems from the shutdown.
- Greg warns to watch future changes closely but affirms current numbers remain reliable.
Jobs Surveys Are Large And Revised Routinely
- The employment survey covers 600,000 employers and the unemployment rate uses 60,000 households, making it far more robust than typical opinion polls.
- Revisions are normal because not all employers report on time, so look at trends over months rather than a single reading.