Rose

Impact

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">The U.S. economy witnessed a substantial boost in employment in March, with nonfarm payrolls increasing by 303,000, according to the <a aria-label="latest report (opens in a new tab)" href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">latest report</a> from the Bureau of Labor Statistics. <br><br>The healthcare, government, and construction sectors observed the most significant job gains. Despite this growth, the unemployment rate remained relatively stable at 3.8%, maintaining its narrow range between 3.7% and 3.9% since August 2023.</p> 
<p>The healthcare sector emerged as a critical driver of employment growth, adding 72,000 jobs, which surpassed the average monthly gain over the past year. Government employment also saw a significant increase of 71,000, with both local and federal government positions contributing to this expansion. Additionally, the construction sector experienced a notable surge in employment, with 39,000 new jobs added, nearly doubling the average monthly gain from the previous year.</p> 
<h3 id="average-hourly-earnings-for-all-employees-rose-by-0-12">Average Hourly Earnings for All Employees Rose by $0.12</h3> 
<p>In terms of earnings and workweek, the average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents to $34.69, while the average workweek for all employees increased slightly by 0.1 hours to 34.4 hours. <br><br>However, the unemployment rates among different demographics showed mixed results, with Blacks increasing to 6.4%, while rates for Asians and Hispanics decreased to 2.5% and 4.5%, respectively. The number of long-term unemployed individuals remained steady at 1.2 million, constituting 19.5% of all unemployed persons.</p> 
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<h3 id="immediate-impact-on-markets">Immediate Impact on Markets</h3> 
<p>The release of the employment report had a notable impact on financial markets. Major stock indexes, including the Dow Jones Industrial Average (DJIA), NASDAQ, and <a href="https://tokenist.com/the-bull-and-bear-case-for-spx-in-2024/" rel="dofollow" class="deco-link">S&amp;P 500</a>, experienced declines following the announcement. <br><br>The DJIA fell by 530.16 points, while the NASDAQ and S&amp;P 500 dropped by 228.38 and 64.28 points, respectively. <br><br>Commodities such as gold and oil saw slight decreases, and the U.S. 10-year Treasury yield increased by 0.052, possibly reflecting market adjustments in response to the employment data. <br><br>The EUR/USD exchange rate saw a minor decrease, and the VIX, a measure of market volatility, increased by 0.18 points, suggesting heightened investor uncertainty in the immediate aftermath of the report’s release.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/u-s-economy-added-303k-jobs-in-march-more-than-expected/">U.S. Economy Added 303k Jobs in March, More than Expected</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

U.S. Economy Added 303k Jobs in March, More than Expected

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