ACTV - The March Jobs Report: More Cold Water On Rate Cuts

2024-04-05 13:27:17 ET

Summary

• March jobs report shows strong job creation, a lower unemployment rate, and higher labor force participation.
• U6 rate remains higher as more workers are seeking additional hours.
• Average hourly earnings continue to point to slow disinflation.

Earlier today, the Bureau of Labor Statistics released the March employment report which showed that the economy created 303,000 jobs in the month of March, well above consensus estimates. While the headline number isn’t everything when it comes to assessing the strength of the labor market and the overall economy, nothing in the March jobs report points to a need to lower interest rates....

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