PREVIOUS TRADING DAY EVENTS 07 April 2023

Announcements 

S. Average Hourly Earnings at 0.3 change as expected. The number of employed people during the previous month increased by 236K, which was more than expected but less than the previous figure. The unemployment rate had almost no change, at 3.5 for March.

The figures show the early stages of a slowdown in jobs as the increase is way lower than the previous one. Note that this result followed the Federal Reserves efforts to slow labour demand in order to bring inflation down.

Everything is moving in the right direction, said Julia Pollak, chief economist for ZipRecruiter. I have never seen a report align with expectations as much as todays over the last two years.

The stock market was closed for Good Friday, however, the indexes experienced a rise in value. The futures had increased after the report and treasury yields also moved higher.

The Federal Reserve Fed states that they are committed to bringing inflation down and they expect to keep interest rates high. Analysts now expect the Fed to implement one last quarter percentage point hike in May.

This is a good jobs report for hardworking Americans. Todays report shows that we continue to face economic challenges from a position of strength, with the economy adding 236,000 jobs last month and the unemployment rate at 3.5. My economic agenda has powered a historic economic recovery part of President Joe Bidens statement on March Job Reports.

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