Hiring in the US accelerates in early 2024

The United States’ (US) labour market is still humming, generating strong job and income gains, which will support consumer spending, writes Diane Swonk.

Payroll employment in the United States (US) rose by 303,000, after being revised up over the previous two months by 22,000. The three and six-month moving averages on employment have now risen to 276,000 to 244,000 in the first quarter, respectively; that compares to 212,000 and 213,000 for those same figures in the fourth quarter. Much of the gains were supply driven, buoyed by a catch-up in immigration. The labour force grew by 469,000 workers in March, the strongest monthly pace since A...

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Authors: Diane Swonk

Published Date: 09 April 2024