Powell talks about non farm payroll: labor market is not an important source of inflationary pressure

According to a report by Jin Shi, Federal Reserve Chairman Powell gave a speech on the economic outlook, stating that based on many indicators, the labor market appears to be roughly in a balanced state and is not an important source of inflationary pressure. Today's employment report shows that the unemployment rate in March was 4.2%, still at a low level since the beginning of last year. In the first quarter, the average monthly increase in employment was 150000 job positions. The combination of low layoff rates, slowing employment growth, and labor force growth has kept the unemployment rate relatively stable.