Job Growth Totals 236,000 In March, Near Expectations As Hiring Pace Slows

The moment we've all been waiting for is finally here. The March employment report is about to be released, and even though the stock market might be closed, we have the futures and bond futures to keep us on our toes. We need to be here, right now, to witness the reactions and see how it all unfolds.

As we eagerly await the numbers, let's take a quick look at the current state of affairs. The equity futures are slightly in the red this morning, but that's not what we're really interested in. What truly matters is the 10-year and 2-year bond yields. These indicators will give us a glimpse into what lies ahead.

The Moment of Truth: Unveiling the Numbers

Finally, the time has come. Rick Santelli, our trusted source of information, is monitoring the wires and he's about to reveal the much-anticipated figures. Brace yourselves!

According to Santelli, everyone was expecting 250 non-farm jobs to be added in March. But wait, there's more! We also need to consider manufacturing jobs, which are estimated to be around 4,000 to 5,000. That's quite a spectacle!

Now let's talk about the unemployment rate. It currently stands at 3.5%, which is impressive considering that it was as low as 3.3% at one point. However, if we take a longer view and look at the year-over-year average, it's still a positive trend overall.

But hold on tight because expectations were slightly off this time. The actual number came in 0.4 lighter than what was predicted in the review mirror at 4.6%. However, don't let that discourage you just yet because 4.2% is actually the lowest post-recession level we've seen so far. That's significant!

The Hidden Story: Labor Force Participation

Now, let's dive into a crucial aspect that often goes unnoticed – labor force participation. This is a biggie, folks! The current rate stands at 62.6%, which is exactly where it was in February, just before everything went haywire. It's a positive sign that we're slowly getting back on track.

In fact, if we compare it to the 63.3% we had in December, the improvement becomes even more evident. It seems like employers are starting to feel more confident and don