US employers added 177,000 jobs in April — far above analysts’ expectations in a sign that President Trump’s tariffs have not started to stunt hiring yet.
It’s still a decrease from the month before, when new payroll reports came in at 228,000.
The unemployment rate remained unchanged at 4.2%, as expected, the Bureau of Labor Statistics said on Friday.
Economists surveyed by Bloomberg had expected job growth to slow to 138,000, with businesses pulling back on hiring to cut down on costs while faced with hefty tariffs.
Analysts have cautioned, however, that a broader shift in hiring might not reveal itself in reports for another few weeks or even months, since Trump’s sweeping tariffs did not take effect until early April, and they were much higher than anticipated.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
