(CercleFinance.com) – Returning to the official report on American employment unveiled at the beginning of the afternoon, economists see it overall as proof of economic dynamism likely to ward off the prospect of a reduction in key rates.
As a reminder, the American economy generated 303,000 non-agricultural jobs in March according to the Department of Labor, whereas Jefferies expected only 235,000, and the unemployment rate fell by 0.1 point to 3.8 %.
‘The US jobs market remains robust despite expectations of an economic slowdown this year, which would have forced the Fed to consider several rate cuts later in the year,’ said Neal Keane, head of global sales at ADSS .
“We are entitled to ask the question about the timetable for the first rate cut knowing that the economic indicators show that there is no urgency to do so,” continues market analyst Mahmoud Alkudsi, still at ADSS .
‘The certainly astonishing strength of the labor market makes a first rate cut by the Federal Reserve in the first half of the year increasingly unlikely,’ adds Commerzbank.
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