Strong US Labor Market Underpins Economy in First Quarter: Economist

Don Ma
By Don Ma
April 5, 2024Business Matters

U.S. job growth blew past expectations in March and wages increased at a steady clip, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated Federal Reserve interest rate cuts this year.

The Labor Department’s closely watched employment report on Friday also showed the unemployment rate fell to 3.8 percent last month from 3.9 percent in February. The decline in the jobless rate reflected a sharp rebound in household employment, which more than absorbed the 469,000 people who joined the labor force. NTD speaks to ZipRecruiter chief economist Julia Pollak for more.

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