March Employment Data Remains Strong

April 8, 2019

March Employment Data Remains Strong Photo

Risk markets continued their strong performance last week on optimism surrounding a potential trade resolution and strong U.S. unemployment data. The March unemployment report showed that the U.S. economy added 196,000 jobs during the month versus an expected 177,000. The unemployment rate remained near its recent lows at 3.8%. I anticipate the strength of employment conditions will continue to support moderate economic growth over the next few quarters. 

In the week ahead, markets will be watching to see how the looming deadlines for Brexit are handled. The most likely outcome is a deadline extension, but a true resolution looks very unlikely at this point. Minutes from the last Federal Reserve meeting will also be released on Wednesday. 

The correlation between oil and equities continues to remain high, so watch oil prices for confirmation that the global economy continues to improve.  

Tags: Brexit | Oil | Jobs report | Unemployment rate

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