Job Market Report for March

SOURCE www.cnbc.com
Job creation in March exceeded expectations with a rise in nonfarm payrolls and a decrease in the unemployment rate to 3.8%. Wages also rose by 0.3% for the month and 4.1% from a year ago.

Key Points

  • Unemployment rate dropped to 3.8%
  • Wages increased by 0.3% for the month and 4.1% from a year ago
  • Multiple sectors saw positive job gains
  • Market response was positive with stock futures and Treasury yields rising

Pros

  • Nonfarm payrolls increased by 303,000, surpassing expectations
  • Unemployment rate decreased to 3.8%
  • Wages rose by 0.3% for the month and 4.1% from a year ago
  • Positive gains seen in various sectors like health care, government, leisure, and construction

Cons

  • Level of household employment grew modestly over the past year
  • Temporary employment has declined sharply