The March jobs report was another blowout one. There were 303,000 new jobs, versus the median expected forecast of 200,000 (Dow Jones) to 214,000 (Bloomberg), with unemployment at 3.8%. The increase is far higher than the average monthly gain of 231,000 over the last 12 months. And average hourly wages over the last 12 months are at a 4.1% gain, much higher than actual inflation let alone target.

The details are important, but so is the hazier picture of what this might mean for interest rates this year.

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Erik Sherman

GlobeSt

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