ECONOMY & MARKETS

U.S. Unemployment Rate Drops To 3.6% As Labor Market Rapidly Tightens

The sign at an automobile oil-change shop reads "Sos Help Wanted" in Brockton, Massachusetts, U.S., January 4, 2022.
U.S. employers maintained a brisk pace of hiring in March, driving the unemployment rate to a new two-year low of 3.6% while also boosting wages, resulting in a further tightening of labor market conditions and opening the door to a hefty 50 basis points interest rate hike from the Federal Reserve in May.
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U.S. dollar and Japan yen notes are seen in this photo illustration June 2, 2017.

Dollar Rises After Robust U.S. Jobs Data, Euro Dips

The dollar rose on Friday, helped by robust U.S. job growth numbers for March that firmed market expectations that the Federal Reserve will increase the pace of interest rate hikes in an effort to blunt rising inflation.
Workers walk as oil pumps are seen in the background in the Uzen oil and gas field in the Mangistau Region of Kazakhstan November 13, 2021.

Oil Benchmarks On Course For Biggest Weekly Losses In 2 Years

Oil dipped in and out of negative territory on Friday as members of the International Energy Agency (IEA) were due to discuss a further addition of oil reserves to the market alongside a planned 180 million barrel release by the United States.

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