Jobs Report Shows Strong Labor Market Despite Persistent Inflation

Economists expect over 200,000 jobs added in March, unemployment rate to tick down to 3.8%, showing a strong labor market
Corporate profits have reached record highs, layoffs remain muted, and key jobless claims measures still show no signs of weakness
Inflation rose slightly in February but has fallen drastically from its peak, though it remains above the Fed's 2% target
Immigration has surged, boosting the labor supply, allowing job growth to remain strong without overheating the economy
Fed Chair Powell says the "strong but rebalancing" job market is good news, allowing interest rates hikes without slamming the brakes on growth