According to Jinshi Data reports, U.S. labor costs rose by 0.9% in the first quarter, unchanged from the previous quarter. Economic uncertainty caused by tariffs has led to a cooling in labor demand. Data shows that there is 1.02 job openings for every unemployed person, down from 1.06 in February. President Trump's comprehensive tariffs have weakened business confidence, and some economists worry this could quickly translate into unemployment. Economists expect the Federal Reserve to cut interest rates again at some point this year.