April jobs report shows signs of cooling

May 3, 2024

Chief U.S. Economist and Head of U.S. Inflation Strategy discuss the April Jobs Report, highlighting signs of labor market cooling, softer nonfarm payrolls, and rising unemployment rate. They explore implications for the Fed, wage growth, GDP forecast, and conflicting economic signals. Analysis includes Fed's strategies on inflation progress, rate cuts, and employment considerations in policy decisions.

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Introduction

00:00 • 2min

In-Depth Analysis of Economic Trends and Potential Conflicting Signals

01:33 • 2min

Economic Indicators, Fed's Views, and Potential Paths Ahead

03:20 • 2min

Analyzing Indicators for Federal Reserve Decision-making

05:43 • 2min

Analysis of Monetary Policy Cuts and Market Forecasts

07:37 • 2min

According to the April jobs report, the U.S. labor market is showing signs of cooling. Nonfarm payrolls were softer than anticipated increasing by 175,000 last month, while the unemployment rate rose to 3.9%. Does this all spell good news for the Fed? Join Mike Feroli, Chief U.S. Economist, and Phoebe White, Head of U.S. Inflation Strategy, as they unpack the latest numbers.

This episode was recorded on May 3, 2024.

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