Instant view: March US payrolls beat expectations; wages increase steadily

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The US economy added 303,000 jobs in March, beating expectations of 200,000 jobs. The unemployment rate fell to 3.8%. Average hourly earnings increased by 4.1% year-over-year. The strong jobs report suggests a solid economy and may delay anticipated interest rate cuts from the Federal Reserve. The stock market reacted positively to the news, with S&P 500 e-mini futures pointing to a higher open. Economists believe the report may have closed the door on a June rate cut. However, the inflation report next week will be closely watched. The strong jobs data pushes out rate cut expectations, with the market now pricing in rate cuts after September. The dollar is expected to remain strong, and the carry trade theme in FX may continue. The report has put pressure on the upcoming US inflation report, which is expected to be bad. Overall, the labor market remains strong, and the Fed may not need to cut rates this year if the economy continues to perform well.

#UsEconomy #JobsReport #FederalReserve #InterestRates

https://finance.yahoo.com/news/instant-view-march-us-payrolls-125525578.html