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The latest U.S. payrolls report shows the job market is advancing without becoming overstretched, Chicago Fed President Charles Evans told reporters Friday after a speech.

“The unemployment rate is roughly in line with what we were expecting,” Evans said, cautioning he had only seen a few headline numbers. "I don't think it's indicative of overheating,” he said. “We're hearing business reports about the need for workers and all of that, so more people being hired is a really good thing.”

U.S. employers added 431,000 jobs in March, unemployment declined two tenths to 3.6% and average hourly earnings were up 5.6% from a year earlier, the Department of Labor said.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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