The economy added a lot more new jobs than expected last month
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 5 April 2024
⏱️ 1 minutes
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Summary
Private and public employers added 303,000 jobs in March; average wages increased 0.3% between February and March; engineers expect to increase vessel access to Baltimore’s port by the end of the month; Yellen, in China visit, points to manufacturing overcapacity.
Transcript
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| 0:00.0 | There were a lot more new jobs than expected last month. |
| 0:05.0 | I'm Nova Safo with the Marketplace Minute. |
| 0:07.0 | Economists predicted about 200,000, the economy delivered more than 300,000 new jobs in March. The unemployment rate inch down to 3.8%. |
| 0:16.8 | It has been below 4% for more than two years. Job gains helped boost wages, which on average rose 3 tenths percent month over month, |
| 0:25.0 | annually they're up more than 4 percent outpacing inflation. |
| 0:29.0 | These strong labor market indicators could prompt the Federal Reserve to keep interest rates where they are. |
| 0:34.4 | In Baltimore, engineers working to clear the collapsed bridge blocking the city's port |
| 0:38.1 | expect to restore more ship traffic by the end of the month. |
| 0:41.3 | A channel limited in size would accommodate vessels that carry |
| 0:44.9 | automobiles and farm equipment, the ports specialty. |
| 0:48.6 | Treasury Secretary Janet Yellen is in China for a five-day visit. |
| 0:51.6 | Today she brought up what the US considers manufacturing |
| 0:54.6 | overcapacity in that country assisted by government subsidies. This has helped Chinese |
| 0:59.5 | solar panel and electric vehicle makers. I'm Novasafa with a marketplace minute. |
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