- Analytics
- News and Tools
- Market News
- US: Hiring is slowing, but not collapsing – Wells Fargo
US: Hiring is slowing, but not collapsing – Wells Fargo
Data released on Friday showed the US economy added 236,000 jobs in March, the smallest gain in over two years. Analysts at Wells Fargo point out this is the type of employment report they believe the Federal Reserve wants to see: job growth slowing in an orderly fashion, labor supply expanding and wage growth that is edging closer to rates that are consistent with the central bank's 2% inflation target. They expected another rate hike by 25 bps in May, probably the last one.
Job growth slows from hot to warm
“The employment report can be added to the growing list of indicators that suggest the labor market is softening directionally. While the level of many labor market gauges remain impressive, the weaker direction suggests the FOMC has the end of the tightening cycle within sight.”
“We continue to expect the FOMC will raise the fed funds rate by an additional 25 bps points on May 3 as the trend in inflation has not yet turned convincingly lower.”
“With the effects of policy tightening to date beginning to more clearly seep through to the jobs market, it may prove to be the final hike this cycle as the FOMC becomes more convinced the economy is softening sufficiently to keep inflation firmly on a downward path.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
