Daily Rundown

April 6, 2026

Chart of the Day

Number of the Day

11.5 - The median duration of unemployment, in weeks, in March, up from 11.1 weeks in the prior month and the longest since November 2021

Quote of the Day

"...with a limited number of new workers entering the labor force, the speed limit of the labor market will be different. Productivity growth can make up some of the difference, but absent rapid and sustained gains, the growth rate of the U.S. economy will be slower." - San Francisco Fed President Mary Daly

Friday's Highlights

Nonfarm payroll employment (March) rose by 178,000, the most in 15 months, bouncing back from a 133,000 drop in February.

The unemployment rate (March) declined to 4.3 percent from a prior 4.4 percent.

The average workweek (March) fell to 34.2 hours from a prior 34.3 hours.

Average hourly earnings (March) rose by 0.2 percent on the month and 3.5 percent year-over-year.

Quick Commentary

Job growth has fallen in line with several other indicators in showing some improvement in the underlying fundamentals since the start of the year. There were still some soft spots in Friday's report, however — the rising duration of unemployment, the lack of any sustained uptrend in the workweek, and the continued slowing in wage growth all suggest that the demand for labor remains modest. And even with a pickup last quarter, payrolls are still moving higher at an atypically slow pace for a period of broader economic expansion.

Today's Highlight

ISM services survey

Daily Trivia

In what year was the shortest bear market in the history of the S&P 500, with the index falling by 33.9 percent over a period of just 33 days?

(Thursday's Question: What state ranks second to California in crop diversity, producing more than 200 different commodities, including roughly three-quarters of all tart cherries in the U.S.? Answer: Michigan)