Julia Coronado, United States, Founder discussed on Morning Edition
I'm Tracey Samuelson in for David Brancaccio. Who's on assignment, the bureau labor statistics has just released its March jobs report, one of its most watched indicators last month's report was pretty disappointing. The economy added only twenty thousand jobs in February well below its have ridged gains. So without further ado, the big headline number for March is jobs added one hundred ninety six thousand and employment rate held steady three point eight percent. Those are the numbers now for. The context. Julia Coronado is the founder of macro policy perspectives. Hey, julia. Hey, good morning morning. So this looks like a pretty reassuring bounce back after February's low. Yes, this is a indication that the US economy is resilient despite some of the worries of late that we might be heading into a recession. We saw a strong particularly in service sector hiring. So it is reassuring. Okay. But tummy about wages. They were down a touch to three point two percent. Yeah. That's that's the disappointing aspect of the report we real exceleron wage growth last year, and it seems to have plateaued in recent months. So that came in on the weak side, the annual pace of wage growth, actually, slow three point two percent from three point four percent still better than where we were a year ago. But we would like to see continued acceleration there to give purchasing power to consumers, and what about manufacturing it lost a few thousand jobs, not a lot. But it was the first drop since late twenty sixteen. Yeah. And that's to be expected given to pooling in the global manufacturing that we've seen global growth has slowed led by manufacturing. The US is not going to be immune to that. So we are seeing manufacturing hiring slow and that should be a trend. That's with us for a few months, at least until we see what happens with the global economy. Right. Julia Coronado, founder of macro perspec-. Effective in New York. Thanks so much. My pleasure. And now, let's check market reaction..