Fri, 02 May 2025

Fri, 02 May 2025 US jobs grow by more than expected despite tariff turmoil

Employers added 177,000 roles in April as the jobs market continues to prove resilient.

* The US added 177,000 jobs in April, beating expectations and leaving the unemployment rate at 4.2%.
* Despite turmoil caused by trade policy changes, hiring remained solid.
* Analysts expressed caution, noting that the impact of tariffs will take time to be fully felt.
* Key industries driving job growth were healthcare, warehousing, and transportation.
* Payrolls declined in manufacturing and retail, while employment rose in local government.
* Average hourly pay increased 3.8% over the last 12 months.
* The jobs report suggests the US central bank may not need to cut interest rates to support the economy.
* Investors were buoyed by the better-than-expected jobs report and rising hopes for US-China trade talks.
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