The larger-than-expected rebound in non-farm payrolls in March mainly reflects a reversal of the strike and weather effects that weighed on hiring in February, rather than being a sign that the labour market is rapidly gaining momentum. While higher oil prices should eventually support payrolls in the mining sector, the more immediate risk is that the hit to consumers’ purchasing power will weigh on demand and therefore hiring in the near term.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
