Powell on non-farm payrolls: labour market not a significant source of inflationary pressure
April 4, according to Golden Ten reports, Federal Reserve Chairman Jerome Powell spoke on the economic outlook, saying that the labour market appears to be roughly in balance by many indicators and is not an important source of inflationary pressures. Today's jobs report showed that the unemployment rate was 4.2% in March, which remains at a low level since early last year. Employment grew by an average of 150,000 jobs per month in the first quarter. The combination of low layoffs, slowing job growth and labour force growth has kept the unemployment rate essentially stable.
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