U.S. and world news for March 31

Job opportunities were expected to have declined in February, as the US labor market remains in a ‘low-hire, low-fire’ state. Economists expected job openings to decline to 6.84 million from 6.95 million in January. CNN News Source

Pace of hiring just fell to the lowest since 2011, outside of the pandemic

(CNN) — US businesses are adding workers at the weakest pace in 15 years, excluding the onset of the pandemic, new data showed Tuesday, a sign that the “low-hire” labor market had slowed down even before the Middle East conflict threatened to shake the US economy. Hires as percentage of total employment dropped to 3.1% at the end of February, the lowest rate since April 2020 and, before that, 2011, according to the latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics. The lowest hires rate on record was 2.9% in 2009, during the Great Recession. The number of job openings – a closely watched measurement of labor demand – dipped as well. They fell to an estimated 6.88 million from 7.24 million in January. Listless hiring and labor hoarding mean the all-important “churn” needed for a healthy labor market and healthy economy has ground to a near-halt. The February jobs report, which showed the US economy shed 92,000 jobs that month, further raised concerns that the labor market was not just stuck, but breaking. The weekslong deadly and escalating conflict in the Middle East has amplified those fears.

Iran War: Kuwaiti tanker hit

(CNN) — Overnight, a Kuwaiti oil tanker was struck by what Kuwaitis said was an Iranian drone attack. Meanwhile, US President Donald Trump told European allies to “go get your own oil” and criticized their limited involvement in the war, a day after threatening to “obliterate” Iran’s energy facilities if Washington and Tehran don’t reach a deal soon. At the same time, Trump and his administration claim talks with Tehran are still ongoing but they have offered little detail on who they are communicating with, while Iran sends contradictory messages. Oil prices were broadly flat Tuesday, reflecting the mixed messaging on the directon of the war. WTI Crude, the US benchmark, settled above $100 per barrel on Monday for the first time since July 2022. A fully loaded Kuwaiti tanker in Dubai waters was hit overnight by what Kuwaits said was an Iranian drone attack. Earlier, Trump had threatened to “obliterate” Iran’s electric plants and oil wells if it does not agree to a deal to end the war. That could constitute a war crime, experts warn. But when asked about this threat, the White House press secretary said the US military will always follow the law. A crucial desalination plant on Iran’s Qeshm Island, which helps provide drinking water for the island, is out of service following an airstrike, Iranian media said Tuesday. About 100 million people in the Persian Gulf region rely on desalination plants for drinking water so any targeting of them would present a major humanitarian risk.

McCormick is merging with Unilever’s food business

New York (CNN) — Hellmann’s owner Unilever is spinning off its food business and merging it with spice maker McCormick to create a grocery staples behemoth. The deal values the Uniliver brands at about $45 billion and McCormick at $21 billion. The merger comes at a difficult time for food companies. Customers are fickle, and Kraft Heinz has struggled to persuade customers to buy packaged food that customers no longer view as healthy. Pepsi was forced to lower prices as consumers struggle with inflation. And Kellogg split up its company to get out of the snacking business. The two companies announced the deal Tuesday, with Unilever shareholders owning 55% of the company and McCormick shareholders owning 35%. Unilever will retain a stake in the remaining part and recieve a $15.7 billion payment. The deal is expected to close in mid-2027 depending on regulatory approvals with McCormick CEO Brendan Foley remaining as its leader.

US gas prices hit $4 per gallon for first time since 2022

(CNN) — The war in the Middle East has pushed the average price Americans are paying for gas to $4.02 Tuesday, topping the $4 per gallon mark for the first time since 2022, according to AAA. Gas prices have surged since the United States and Israel launched their war against Iran. Prices at the pump have risen by about $1 per gallon over the past month, and are now higher than at any point during President Donald Trump’s two terms. The 34.7% rise from the $2.98 a gallon that AAA recorded a month ago is a larger monthly increase than during any earlier oil shocks, including after Hurricane Katrina in 2005 or Russia’s full-scale invasion of Ukraine in 2022. The latter spike eventually took prices to a record $5.02 a gallon. The breaching of the $4 level comes after a week in which American drivers enjoyed some of the slowest moves in retail gas prices since the start of the war in Iran. Prices have risen by fractions of a penny for most of the week, sometimes even edging lower. The average price stayed at $3.98 for six straight days when rounded to the nearest cent before edging up to $3.99 Monday.

Trump shares renderings of a towering presidential library

(CNN) — President Donald Trump on Monday shared renderings of what his future presidential library could look like, offering a look into how the planned Florida-based center might eventually commemorate him. In the nearly two-minute-long video shared by the president on Truth Social, a skyscraper dominates the Miami skyline with the Trump name prominently displayed near the top of the structure. Visitors are depicted entering the building through a golden arch adorned with the presidential seal. Once inside, the imagined interior features exhibits replicating White House landscapes, iconography referencing Trump’s political career, and a host of aircraft on display, including Air Force One. It’s not clear if the renderings, which appear to be AI-generated, represent final plans for a design. CNN has reached out to the White House for more information. The renderings, designed by Miami-based architecture firm Bermello Ajamil, include reconstructions of Trump’s gilded Oval Office and the Rose Garden. Scenes in the mock-ups also resemble the “Presidential Walk of Fame” installed on the West Colonnade and plans for an immense ballroom Trump is hoping to build where the East Wing once stood. While Eric Trump announced that Miami Dade College would be the site of the library last year, those plans hit a roadblock when a judge temporarily blocked the sale of land after an activist sued, alleging Florida’s open government law had been violated. Per the foundation, the site chosen is 2.63 acres and will be adjacent to the Miami Freedom Tower, which served as a processing center for Cubans fleeing communism in the 1960s.

CNN’s Molly English and Samantha Waldenberg contributed to this report.