The Morning View: April 5, 2019

  • April 5, 2019

Senior Vice President / Portfolio Manager
(615) 591-0611

In this morning’s announcement, the economy created 196,000 jobs in March, more than forecasted, and the unemployment rate held steady at 3.8%. Increases occurred in the health care and professional / technical services sectors, while manufacturing was soft. Meanwhile, Average Hourly Earnings increased just 0.1% in March, lower than expected and has increased 3.2% on an annual basis. A balanced report, with a strong headline number recovering from the 20k reading the previous month (now 33k with revisions). Moderating Average Hourly Earnings indicates wages are not placing upward pressure on inflation. The patient stance on interest rate policy by the Federal Reserve remains intact. Following the report, equity futures are higher and bond yields are mostly unchanged heading into the market open.

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