Summary:
Nonfarm payrolls rose by 303,000 in March, surpassing expectations of 200,000 and February's revised 270,000 gain, per the BLS.
April NFP
3/5/2024 (Fri)
Previous (Mar)：303k Forecast: 250k
Nonfarm payrolls increased 303,000 for March, well above the Dow Jones estimate for a rise of 200,000 and higher than the downwardly revised 270,000 gain in February, according to the BLS.
In the key average hourly earnings measure, wages rose 0.3% for the month and 4.1% from a year ago, both in line with Wall Street estimates. The report undermined the case for early interest rate cuts.
More workers joined the labor force when job openings remain historically high. That dynamic suggests a healthy, sustainable equilibrium between the supply and demand of labor, economists said.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Oil prices steadied on Friday, set for a weekly loss, as the Fed and ECB's cautious stance fueled global economic concerns.
2024-12-20
The October PCE price index rose 2.3% YoY, as expected. Excluding food and energy, core inflation climbed 2.8% compared to last year.
2024-12-20
US stocks plunged, with the Dow Jones hitting a record low. Many strategists see potential for further gains, while Tesla's stock hit a new high.
2024-12-19
