VTI - The Labor Market Won't Quit: 303000 Jobs Added In March
2024-04-05 09:45:12 ET
Summary
- March nonfarm payrolls exceeded expectations at +303,000, the strongest monthly employment climb since May 2023.
- Unemployment rate dropped to 3.8% from 3.9% in February, while average hourly earnings increased by 0.3%.
- The Fed swaps market shifted out the first rate cut from July to September, with expectations of just two quarter-point cuts in 2024.
March nonfarm payrolls printed a strong +303,000, significantly above the +214,000 consensus forecast, though it was not far from in line with the whisper number due to the strength in ADP Private Payroll report back on Wednesday....
The Labor Market Won't Quit: 303,000 Jobs Added In March