El-Erian Sees US Exceptionalism at Play Again With Job Growth Soaring
The supply and demand sides both look strong, he says, and even the Fed can get on board
Construction was one of the bright spots in today’s payrolls report as the labor market roared in March.
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The US has been in a league of its own this year when it comes to economic strength. And that storyline got turbocharged today with a 39th straight month of jobs gains. Not only did the US create 303,000 jobs in March, above expectations, but the latest read on the labor market didn't suggest this strength was overly inflationary, at least not yet.