The Globe and Mail reports in its Saturday, April 6, edition that U.S. job growth blew past expectations in March and wages increased at a steady clip, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated Federal Reserve interest-rate cuts this year. A Reuters dispatch to The Globe reports that the Labour Department's report on Friday showed the unemployment rate fell to 3.8 per cent last month from 3.9 per cent in February. The decline in the jobless rate reflected a sharp rebound in household employment. The unemployment rate has remained below 4 per cent for 26 straight months, the longest such stretch since the late 1960s. The U.S. economy is outshining its global peers even though the Fed has raised rates by 525 basis points since March, 2022, to dampen inflation. The labour market is benefiting from a rise in immigration over the past year. Though the strong hiring did not alter expectations that the Fed would start easing rates this year given increased labour supply, financial markets are doubtful of the three cuts envisaged by policy-makers. JPMorgan analyst Michael Feroli says, "We are pushing back our call for the first Fed cut from June to July."