Summary
Labor force participation rate increased to 62.7% as more people returned to the workforce. Average hourly earnings rose by 0.3% in March, in line with expectations. On a yearly basis, average hourly earnings rose by 4.1%, slightly down from the previous month.
Key Points
1. Labor force participation rate increased to 62.7% from 62.5%, indicating a significant number of people rejoining the workforce.
2. Average hourly earnings rose by 0.3% in March, meeting expectations and showing improvement from the previous month.
3. On a year-over-year basis, average hourly earnings increased by 4.1%, slightly lower than the previous month’s growth rate of 4.3%.