Despite slower employment growth in March, the labor situation continues to brighten. Nonfarm payrolls advanced at a moderate pace (175,000 net new jobs). Average hourly earnings showed their largest year-over-year increase since 1990 (up 4.0% to $12.15).
Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-04, pp. 12, 04.01.1997.