📈 March's job report brings good news for the U.S. economy! Nonfarm payrolls surged by 303,000.

Number was driven by gains in healthcare, government, and construction sectors.

Despite this, the unemployment rate held steady at 3.8%, maintaining its narrow range since August 2023. Healthcare led job growth with 72,000 new positions, while government and construction also saw significant increases.

💵 Average hourly earnings rose by $0.12 to $34.69, and the workweek expanded slightly to 34.4 hours. However, unemployment rates among different demographics varied, with Blacks rising to 6.4%, while Asians and Hispanics saw decreases to 2.5% and 4.5%, respectively.

Long-term unemployed individuals remained steady at 1.2 million.

#Finance #usa #USEconomy

Macro Markets Show Weakness, Putting Pressure on the US Economy to Slow Down🤔
More of the same in macro markets yesterday, with prices holding up despite more data points suggesting a more pronounced slowdown in the US economy in the near future. US initial claims rebounded 13k to 231k last week, the highest levels since August. Similarly, continuing claims also rose for the 8th straight week, to the highest levels since Nov 2021 as signs of a labour market cooldown continues.Other data points were similarly weak with US industrial production falling by -0.6% in October, the weakest print in almost a year, with drops in capacity utilization, manufacturing production, as well as vehicle sales. The NAHB housing index also fell -6 points to 34 in November, marking a 4th straight decline, and also the lowest print since last November.
#MacroMarkets #USEconomy #InitialClaims #IndustrialProduction #HousingMarket

US economy surges, FOMC minutes give hawkish signals!😮

In US markets, signs of a stronger-than-expected economy continued to simmer, with housing starts surging 3.9% MoM, industrial production adding 1% MoM, and the Atlanta Fed GDPnowcast being revised up further to a sizzling 5.8% (due to friendly seasonal adjustments), significantly above Wall Street estimates. All of this stronger economic news continues to pressure US fixed income, with 10yr yields resuming their relentless march higher, and about to break the last October highs. To make matters worse, the July FOMC minutes carried a hawkish bent, with headlines such as: Most Fed officials saw 'significant' upside risks to inflation Inflation risks could require further tightening Officials saw high uncertainty around policy lags

#USEconomy #FOMC #GDPNow #Fed #market