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MNI US Employment Insight - Mar 2022

  • February’s U.S. employment report was once again far stronger than expected with payrolls up +678k (cons. +423k) along with a healthy two-month net revision. The trend remains north of 500k new jobs per month.
  • The household survey trend remains even stronger, pushing the unemployment rate lower to a new post pandemic low of 3.8% despite a step higher in participation rates.
  • However, potentially as a result of higher participation, wage growth slowed abruptly on the month.
  • See the report below for the takes of nine sell-side analysts, including differing opinions as to the reason behind this wage growth weakness.

FOR FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:

USEmploymentReportMar2022.pdf

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