A jobs report on Friday will provide a key gauge of U.S. economic health as the nation weathers a global oil shock<\/a> set off by the war<\/a> with Iran.<\/p>\n The government data — which details hiring in March — is set to arrive as the war drives up gasoline prices<\/a> and borrowing costs, threatening a drag on the economy.<\/p>\n Economists expect employers to have added 59,000 jobs in March, which would mark tepid but improved performance after 92,000 jobs were lost in the previous month<\/a>.<\/p>\n The U.S. added an average of about 15,000 jobs per month in 2025, U.S. Bureau of Labor Statistics (BLS) data showed. That performance amounted to a sharp slowdown from 186,000 jobs added each month in 2024.<\/p>\n The U.S.-Israeli war with Iran, which began on Feb. 28, triggered one of the worst global oil shocks in decades, prompting gloomy forecasts<\/a> on Wall Street of a potential U.S. recession over the coming months.<\/p>\n In theory, a prolonged oil shortage could drive up prices for a vast array of goods, sapping energy from consumer spending, which powers most of the nation\u2019s economic growth.<\/p>\n Iran has mounted an effective closure of the Strait of Hormuz<\/a>, a critical maritime trading route that facilitates the transport of about one-fifth of the global oil supply.<\/p>\n Construction continues on a new enclosed stadium for the Tennessee Titans NFL football team, on March 24, 2026, in Nashville, Tenn.<\/span><\/span><\/span><\/p>\n George Walker IV\/AP<\/span><\/p>\n<\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n The U.S. is a net exporter of petroleum, meaning the country produces more oil than it consumes. But since oil prices are set on a global market, U.S. prices move in response to swings in worldwide supply and demand.<\/p>\n The disruption in oil shipping has pushed U.S. crude prices above $110 a barrel, which marks a staggering rise of more than 50% since the war began on Feb. 28.<\/p>\n Gasoline prices in the U.S. ticked up to $4.08 on average per gallon as of Wednesday, marking a leap of $1.09 over the past month, AAA<\/a> data showed.<\/p>\n![\"chair\"](\"https:\/\/i.abcnewsfe.com\/a\/52d7c537-d737-4a56-9e07-f495c7a72a74\/construction-stadium-ap-jt-260402_1775162439980_hpMain.jpg?w=375 "\\"chair\\"")
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