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Marc Arrington headshot

Marc Arrington

Loan Officer
Movement Mortgage
NMLS ID # 2114896

Jobs Report Surprises: 303,000 Jobs Added – What’s Next?

By: Movement Staff
April 5, 2024
The Federal Reserve stands poised to ease rates, contingent upon a compelling impetus from the economy. Recent economic data suggests a lack of urgency for immediate action. Key focus remains on inflation metrics and payroll figures, with today's nonfarm payroll release surpassing expectations, adding 303,000 jobs compared to the projected 214,000. The supply of labor is increasing with the current rate of immigration, so the question is, how much if any will the strong labor growth impact inflation and wage pressures?  Despite the market anticipation of 50-75 basis points in rate cuts in 2024, the prevailing strong economic indicators do not signal an imminent necessity to start the easing cycle.
Author: Movement Staff

The Market Update is a weekly commentary compiled by a group of Movement Mortgage capital markets analysts with decades of combined expertise in the financial field. Movement's staff helps take complicated economic topics and turn them into a useful, easy to understand analysis to help you make the best decisions for your financial future.

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Marc Arrington headshot
Marc Arrington
Loan Officer
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8262 Market St suite 105, Wilmington, NC 28411
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NMLS # 2114896

State License #AL-91140, CA-DFPI-CA-DFPI2114896, FL-LO104182, GA-2114896, IN-DFI-63902, NC-I-200856, SC-BFI-MLO-2114896, VA-MLO-59645VA