Following 12 consecutive months of employment growth surpassing 200,000 jobs per month, the U.S. labor market slowed down in March, adding just 126,000 net new jobs, according to research analysis from JLL. Continued overall employment growth is beginning to put pressure on wages,” writes JLL Research Analyst Phil Ryan. “Hourly wages are up 2.6 percent compared to this time last year, exceeding CPI increases. We expect that wage growth, and as a result consumer spending and confidence, will accelerate as the search for talent intensifies. Also, because external indicators, jobless claims and other labor market measures continue to trend in a positive direction, we believe March may have been an aberrant month, and expect further growth ahead.”
