Jobs Report Friday to Gauge Labor Market Strength as Wages, Inflation Remain Key Fed Focus

The March jobs report coming out Friday will be closely watched to see if the labor market is still going strong or beginning to slow down.

Analysts expect March nonfarm payrolls to increase by 192,500, down from 275,000 in February. The unemployment rate is expected to edge down to 3.8%.

Wage growth is expected to moderate slightly. The Fed will be watching for signs of slowing wage inflation.

Regardless of the jobs data, the next big report for the Fed will be April's Consumer Price Index, a key gauge of inflation.

In California, about half a million fast food workers are now making at least $20 per hour, $4 above the state minimum wage, thanks to a new law.