The March jobs report is expected to show the U.S. labor market remained relatively stable last month, but experts say the Iran war has already shifted the economic landscape in the weeks since the data that inform Friday’s report was collected.

Surveys conducted by the Bureau of Labor Statistics were completed by March 12. At the time, the full brunt of the war — for which President Donald Trump has laid out an uncertain timeline — had yet to hit the job market.

Three weeks later, gasoline prices have surged to more than $4 a gallon , a level that, if it is sustained, would sap U.S.…