The U.S. economy showed positive signs in April, adding 177,000 jobs according to a report from the Bureau of Labor Statistics. This figure exceeded expectations and could influence the Federal Reserve’s stance on interest rates.
The unemployment rate held steady at 4.2 percent, a range it has maintained since May 2024. Over this period, the rate has fluctuated between 4.0 and 4.2 percent, indicating a stable job market.
Healthcare and transportation sectors led the job growth, with healthcare adding 51,000 jobs and transportation and warehousing contributing 29,000. However, federal employment saw a decline, losing 9,000 jobs in April and a total of 26,000 since January.
The labor force participation rate remained unchanged at 62.6 percent, showing little variation over the past year. Additionally, average hourly earnings for private employees increased slightly, rising by 6 cents to reach $36.06.
The report also revised previous job growth numbers for February and March. February’s figure was adjusted down to 102,000 from 117,000, and March’s was lowered to 185,000 from 228,000. Despite these adjustments, March’s growth still surpassed expectations, although not by as much as initially reported.
Overall, the job market appears resilient, and these developments may shape future economic policies.
