{"id":377630,"date":"2026-04-06T09:27:08","date_gmt":"2026-04-06T09:27:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/377630\/"},"modified":"2026-04-06T09:27:08","modified_gmt":"2026-04-06T09:27:08","slug":"latest-non-farm-payrolls-vindicates-the-feds-wait-and-see-approach-cibc","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/377630\/","title":{"rendered":"Latest non-farm payrolls vindicates the Fed’s wait-and-see approach – CIBC"},"content":{"rendered":"

For some context, the report from Friday: US March non-farm payrolls +178K vs +60K expected<\/a><\/p>\n

The jobs data was much stronger than anticipated and certainly might have shut the door on talk of rate cuts, if not already because of the US-Iran conflict in the past month. CIBC weighs in by saying that:<\/p>\n

“Payroll employment rebounded more than expected in March and the unemployment rate edged down, something that will, temporarily at least, ease fears regarding a weakening labor market. The 178K gain in payrolls employment was well above the consensus forecast (+65K), and was offset only very slightly by cumulative downward revisions of 7K to prior months. Healthcare employment rebounded sharply following a strike-impacted February, while retail trade and transportation also saw gains following declines in the prior month.<\/p>\n

Despite strong employment growth, hourly earnings were weaker than expected at 0.2% m\/m and 3.5% y\/y. While that’s not great for households, particularly given the pressures to disposable incomes from higher pump prices, it may ease concerns at the Fed regarding broader-based inflationary pressure.”<\/p>\n

Overall, the report has something in it for everyone it would seem. In other words, the job numbers were strong enough to deter talk of a much steeper decline in labour market conditions. Meanwhile, wages were modest but not hot enough to suggest a broader pick up in inflation.<\/p>\n

As such, the only main question is the US-Iran conflict and the broader implications of that towards the economy.<\/p>\n

And for now, CIBC argues that it means the Fed can continue to stay on the sidelines in terms of policy setting.<\/p>\n

“Overall though this was still clearly a better than expected report and one that justifies the current wait-and-see approach from the Fed, as it assesses how persistent the current oil price shock will be and how likely it is to spill over into other areas of inflation.”<\/p>\n","protected":false},"excerpt":{"rendered":"For some context, the report from Friday: US March non-farm payrolls +178K vs +60K expected The jobs data…\n","protected":false},"author":2,"featured_media":377631,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":{"0":"post-377630","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-il","11":"tag-israel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/377630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=377630"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/377630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/377631"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=377630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=377630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=377630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}