Posted 4/5/2024, 12:39:00 PM
US Job Growth Soars in March While Stocks Drop on Geopolitical Concerns
- US economy added 303,000 jobs in March, far exceeding expectations of 205,000 jobs
- Stocks dropped over 3-4% this week, on track for worst week in a year due to Middle East tensions and hawkish Fed
- First quarter earnings season kicks off next week; expected to show 3.1% growth, boosting stocks
- Economists predict 200,000 jobs added in March; unemployment rate expected to fall to 3.8%
- Job openings edged up slightly in February but layoffs rose, signs of loosening job market