New Jobs Report Beats Expectations

April 5, 2024

This report and the February report showed some broadening in terms of job creation, which is a very good sign.

Lauren Goodwin, economist and chief market strategist at New York Life Investments, on the March jobs report.

Why It Matters: The U.S. economy added 303,000 jobs in March – beating expectations – while the 3.8% unemployment rate met economists predictions. The report indicates a strengthening economy but its impact on the Federal Reserve’s decision on whether to cut interest rates remain to be determined. While the Fed hinted at cutting interest rates this summer, they continue to emphasize the importance of ongoing data in their decision making.

Read More: Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8% (CNBC)

by Emily Hooker, based in Texas