Economists consulted by the “WSJ” estimated the creation of 200 thousand jobs; unemployment rate was 3.8%
The United States created 303,000 jobs outside the agricultural sector in March. The result exceeded market expectations, which estimated the creation of 200 thousand jobs, according to economists consulted by Wall Street Journal. It is higher than that recorded in February.
The health, government and construction sectors boosted the result. The data was released this Friday (April 5, 2024) by the BEA (Bureau of Labor Statistics). Here is the full report (PDF – 315 kB, in English).
The unemployment rate in the country was 3.8%, following the estimate of economists consulted by Wall Street Journal. The percentage is 0.1 percentage point lower than that recorded in February (3.9%). The number of unemployed people in the country was 6.4 million in February, a drop of 100 thousand compared to the previous month.
The population’s direct participation in the labor force was 62.7%, an increase of 0.2 percentage points compared to February.
The average wage for U.S. nonfarm workers in the private sector rose to $34.69 per hour. The value represents an increase of 0.3% compared to February, rising to 4.1% compared to March 2023.
The BEA also presented, in the March report, the review of job creation in January and February. In the first month of this year, it rose from 229 thousand to 256 thousand. In the 2nd month there was a drop of 5,000 vacancies – from 275 thousand to 270 thousand.
US ECONOMY
In 2023, GDP (Gross Domestic Product) rose 2.5%, according to BEA data released on February 28. The country’s economic activity accelerated compared to 2022, when it grew 1.9%. In the 4th quarter of last year, the index grew 3.2%. Data for the 1st quarter of 2024 will be released on April 25th.
INFLATION AND INTEREST
North American annual inflation was 3.2% in February, 0.1 percentage point above that recorded in January. The monthly rate was 0.4%. Data for March will be released on April 10.
The interest rate is in the range of 5.25% to 5.50%, the same since July 2023.
On Wednesday (April 3), the president of the Fed (Federal Reserve, the Central Bank of the USA), Jerome Powell, stated that more evidence of falling inflation was needed to reduce interest rates. He also said that the FOMC (Federal Open Market Committee) is in no rush to ease monetary policy in the US.
The Fed’s monetary policy committee will meet from April 30 to May 1 to decide whether to maintain or change the country’s interest rates.
Source: https://www.poder360.com.br/economia/eua-criam-303-mil-vagas-de-emprego-em-marco/
