US Job Market Slows But Remains Resilient, Allowing the Fed to Remain on Track for Steady Rate Hikes

Although employers added fewer jobs than expected in March, the labor market remained historically tight.
The unemployment rate fell again and wage growth cooled, giving the Federal Reserve confidence to proceed gradually in raising interest rates.
Some industries are already witnessing job losses, but the overall job market remains stable or even strong, suggesting the Fed can continue its efforts to curb inflation.
The labor market is gradually slowing to a more sustainable pace that supports stable price increases, indicating the Fed is steering the economy to an ideal "soft landing."
Democrats are praising economic policies while Republicans blame impending economic harm on those policies in advance of the 2020 presidential election.