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UBS On-Air: Market Moves
Top of the Morning: The week in review and preview
Apr 5, 2024
Brian Rose, Senior Economist Americas at UBS Chief Investment Office, discusses the March employment report and US labor market health. Topics include payroll growth, unemployment rate decline, wage growth's impact on inflation, key data releases like job openings and ISM PMI, Federal Reserve rate cut speculation, upcoming releases like NFI B survey and March CPI report, and the influence of inflation data on market dynamics.
09:21
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Quick takeaways
- March employment report showed robust payroll growth and decreased unemployment rate.
- Notable data releases highlighted job market imbalances and mixed economic outlook.
Deep dives
March Employment Report Overview
The March Employment Report highlighted strong payroll growth with non-farm payrolls up by 303,000, exceeding consensus expectations. The unemployment rate decreased to 3.8%, indicating a robust labor market. Average hourly earnings showed a slight moderation in growth, aligning with the Fed's focus on wage growth. Additionally, other indicators like labor force participation rate and household employment numbers contributed to the overall positive assessment of the report.
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