April 7, 2017
Heavy weather appears to have held down payroll growth which came in at only 98,000 in March. But if weather is to blame, then a rebound is in store for April. A positive in the report is a sharp 2 tenths decline in the unemployment rate to a nearly 10-year low of 4.5 percent. Yet despite fewer people unemployed, wage inflation is nowhere to be found.
The report points to stable job and inflation conditions and had little effect on the markets as did a U.S. missile strike against Syria. The Dow ended the day little changed and the week little changed at 20,656. Treasuries were also little changed, ending the week with a 1 basis point dip to 2.39 percent.