The number of new non-farm payrolls in the United States in March was 303,000, which continued to significantly exceed the expected average of 200,000 and was the largest increase since May last year. Employment growth in March was concentrated in the healthcare, government and construction sectors. The unemployment rate fell to 3.8%, which was also stronger than expected. The market weakened expectations of interest rate cuts. The first interest rate cut in July was fully priced in, but now it has been postponed to September. Gold once plunged by $14.
The U.S. Bureau of Labor Statistics revised the number of new non-farm payrolls in January from 229,000 to 256,000; the number of new non-farm payrolls in February was revised down from 275,000 to 270,000.
After the revision, the total number of new jobs in January and February increased by 22,000 compared with the pre-revision.