NFP - The hourly wage growth meets expectations
2024-05-03
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.
Funds scoop up UK stocks amid speedy rotation
BlackRock and Allianz see a UK stock market turnaround, hoping an improving economy, lower interest rates, and political stability will help.
2024-07-26
Euro rally against sterling defies macro shift
The euro hovered around a two-week high against the pound on Friday, despite data showing the UK's recovery is outpacing the eurozone's.
2024-07-26
Nasdaq100 Saw Its Worst Day Since 2022
Stocks fell globally on Wednesday on disappointing Tesla and European luxury earnings, while oil prices struggled amid weak demand concerns.
2024-07-25
