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.
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