Good Jobs Report

It is clear that a 303,000 growth in non-farm payrolls is good news.

I do wonder though how the Federal Reserve will react to this:

Jobs grew at a brisk pace in March, but wage growth was contained, confirming a belief among economists that the U.S. can continue to expand employment without fanning inflation.

U.S. employers added a seasonally adjusted 303,000 jobs in March, the Labor Department reported Friday, significantly more than the 200,000 economists expected. The unemployment rate slipped to 3.8%, versus February’s 3.9%, in line with expectations.

Average hourly earnings rose 4.1% from a year ago, the smallest gain since June 2021.
Investors have been on edge recently over economic data suggesting that Federal Reserve interest-rate cuts might not be imminent. The strength of Friday’s report feeds into those concerns—though that is less because it stirs worries of inflation, and more because it leaves the central bank comfortable with its wait-and-see stance on interest rates.

I do not expect the Federal Reserve to lower rates at its next meeting.

They will weight until the employment situation looks dire