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Hey {{ first name | Market Timer }}!
U.S. labor market’s “low hire, low fire” state continues.
The U.S. unemployment rate dropped to 4.3% in March from 4.4% in February. More precise data show the rate fell to 4.256% from 4.441% during this period.
Fewer workers leaving or losing their jobs and becoming unemployed mainly drove the downtick in March’s reading.
Notably, the FRED chart shows unemployment has trended steadily higher since bottoming near 3.4% in early 2023, meaning this single-month dip does little to change the broader trajectory.
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