The Federal Reserve is standing pat on interest rates for now, with the timing of a cut uncertain. Still, the backdrop remains supportive for the U.S. job market and the rank and file.
The U.S. job market is humming along and there are signs this may continue for the rest of the year, even if the pace moderates. "Seventy-two percent of CEOs saying that they expect to modestly or significantly increase their workforce over the next 12 months," KPMG U.S. Chair and CEO Paul Knopp told FOX Business following the firm’s April CEO Outlook Pulse Survey of 100 U.S. CEOs of large companies.
The labor market remains relatively tight, but supply-and-demand conditions have come into better balance," said Powell during his press conference. "Strong job creation over the past year has been accompanied by an increase in the supply of workers, reflecting increases in participation among individuals aged 25 to 54 years and a continued strong pace of immigration." PRIVATE HIRING SURPRISES: ADP Fresh data points this week reinforce a resilient labor picture.
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