First Sign of Weakening Labor Market as Job Offers Hit Two-Year Low
After his first day in court, former President Donald Trump will face 34 counts of falsifying business records. According to the charging document, the charges stem from a $130,000 payment by Trump to a woman to keep their extramarital affair hidden. The former president pleaded not guilty to all charges and gave a speech at his Florida residence on Tuesday, saying: "They don't follow the law, [because] the US justice system no longer has laws and is used to win elections." In terms of economic data, job offers fell to their lowest levels in the last two years. Even so, the labor market has 1.7 positions for each unemployed person. On the other hand, the manufacturing PMI plummeted, falling to 46.3 from 47.7 in February. This represents the weakest reading of the index since April 2020. The core PCE was also announced, which had a monthly increase of 0.3% against 0.4% expected by the market.