Earnings and Work Hours
Average hourly earnings for private nonfarm employees rose by 12 cents to $34.69, reflecting a 4.1% year-over-year increase. The average workweek marginally extended to 34.4 hours.
Unemployment Rate Consistency and Demographic Analysis
The unemployment rate has hovered between 3.7% and 3.9% since August 2023. Among demographic groups, unemployment increased for Blacks to 6.4%, decreased for Asians and Hispanics, and remained stable for Whites, men, and women. Long-term unemployment and part-time employment due to economic reasons showed little change.
Market Reactions and Federal Reserve Outlook
This robust job growth has led to a rise in Treasury yields, influencing market expectations regarding the Federal Reserve’s interest rate decisions. While rate changes are not anticipated…
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