Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market.
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Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market.
The March nonfarm payrolls count likely will indicate hiring continuing at a solid pace, though some weakening foundations of the labor market could take greater focus when the Labor Department releases its key report Friday morning.
Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday.
Atlanta Federal Reserve President Raphael Bostic expressed concern Wednesday about the pace of inflation and indicated he doesn't think interest rate cuts should come until much later in the year.
Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.
From consumer and wholesale prices to longer-term public expectations, reports this week served up multiple reminders this week that inflation isn't going away anytime soon.
Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.
Rising gasoline prices likely put a floor under inflation in February, potentially reinforcing the Federal Reserve's decision to take a go-slow approach with interest rate reductions.