The Spaghetti Incident
Summary Strong job growth and wage increases in March - Nonfarm payrolls rose by 303,000, surpassing expectations and previous gains - Unemployment rate decreased to 3.8%, with average hourly earnings rising 0.3% and 4.1% from a year ago Unemployment rate for different ethnicities and its impact on the economy. - Black unemployment rate surged to 6.4% while rates for Asians and Hispanics fell. - Signs of cracks in the labor market with modest household employment growth and decline in temporary employment. Grocery prices accelerating, dining out costs increasing - Grocery prices up 1.2% year over year, first month of acceleration since August 2022 - Dining out costs increased by 25.6% in March, meals at restaurants and bars cost 4.2% more than a year ago Producers in the category focusing on market share through promotions. - Category facing price drops in butter and sugar, cocoa prices over $10k per ton. - Sweets industry facing higher ingredient and labor costs, lower profit ma...