The US economy added higher-than-anticipated jobs in April, with the unemployment rate holding steady—signs of a resilient labor market that ease concerns of an imminent recession in the world’s largest economy.
According to data released Friday by the Department of Labor, the US added 177,000 jobs in April, following a downwardly revised gain of 185,000 in March (previously reported as 228,000).
This surpasses the FactSet consensus estimate of 135,000 new jobs, while the unemployment rate remained unchanged at 4.2%.
The healthcare sector added 51,000 jobs, transportation and warehousing added 29,000, and financial activities gained 14,000. Meanwhile, government employment fell by 9,000 jobs.
The data also showed that average hourly earnings rose 0.2% in April, or by 6 cents, reaching $36.06, suggesting potential upward inflationary pressures from the labor market in the coming months.
The average workweek remained steady at 34.3 hours.
Taken together, this data may encourage the Federal Reserve to maintain elevated interest rates, supported by labor market stability, despite ongoing economic uncertainty tied to President Donald Trump’s policies.
The US economy added higher-than-anticipated jobs in April, with the unemployment rate holding steady—signs of a resilient labor market that ease concerns of an imminent recession in the world’s largest economy.
According to data released Friday by the Department of Labor, the US added 177,000 jobs in April, following a downwardly revised gain of 185,000 in March (previously reported as 228,000).
This surpasses the FactSet consensus estimate of 135,000 new jobs, while the unemployment rate remained unchanged at 4.2%.
The healthcare sector added 51,000 jobs, transportation and warehousing added 29,000, and financial activities gained 14,000. Meanwhile, government employment fell by 9,000 jobs.
The data also showed that average hourly earnings rose 0.2% in April, or by 6 cents, reaching $36.06, suggesting potential upward inflationary pressures from the labor market in the coming months.
The average workweek remained steady at 34.3 hours.
Taken together, this data may encourage the Federal Reserve to maintain elevated interest rates, supported by labor market stability, despite ongoing economic uncertainty tied to President Donald Trump’s policies.
