Latest report from American Labor Statistics Bureau Indicates Nonform payroll increased Up to 177,000 for the month, seasoned seasonally, above the dove jones estimate for 133,000. The unemployment rate was expected at 4.2%. Report notes that health care 51,000 jobs were added, and transport and warehousing, financial activities, and social aid also moved upwards, but the federal government’s employment declined.
Employment was revised in February and March 58,000 less than the report.
“Today’s report is a welcome surprise, showing a flexible labor market where employers continue to increase their workforce despite the prevalence of economic uncertainties,” Ger dialAmerican country manager in Manpower Group told entrepreneur“However, there are still cracks in the foundation that highlight signs of tension in the labor market.”
Doyle said that his company’s real-time data shows the opening of the job below 11% year-on-year, but the labor market is not in crisis-it is at an intersection.
For example, Doyle says that employers are “not an aggressive expansion” of their workforce numbers, and less workers are leaving their jobs, while “people who are finding challenging to re -enter the job market.”
Will the fed cut rate?
Ellis OsenboghHead of investment strategy in JP Morgan Wealth Management, told entrepreneur In an email that “comprehensive labor market stood at a solid rung,” given that April “could have been last month when we did not see the overall impact of trade war 2.0, Dogi job cuts and tight immigration policy.”
Ausenbaugh says the latest report is unlikely “to take a step from the Fed next week,” means that the next meeting is not expected to cut the rate.
Fed will continue its “patient, data-dependent approach”, calling Ousenbogs.
The next Federal Open Market Committee (FOMC) meeting is 6-7 May.
