Against all odds, US economy job numbers blow past predictions

Washington D.C.: The US economy added 177,000 jobs in April, more than analyst predictions of 135,000, but a slowdown from March’s revised gain of 185,000, as businesses grappled with trade policy shifts and federal downsizing. The unemployment rate, however, held steady at 4.2%, matching expectations, the Labor Department reported Friday.

US stock index futures extended gains after the stronger-than-expected jobs report calmed worries over the health of the labor market amid tensions of a global trade war.  

Private sector hiring remained resilient, adding 167,000 jobs—beating forecasts. Government payrolls grew by 10,000, offsetting a 9,000 decline in federal jobs. Healthcare led gains (+50,600), while manufacturing dipped slightly (-1,000). Revisions cut 58,000 jobs from February and March’s totals.

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Transportation and Warehousing added 29,000 jobs, led by warehousing and delivery services. Financial Activities added 14,000, continuing a steady growth trend. Social Assistance saw growth slowed to 7,600 jobs, below its 12-month average.

Long-term unemployment rose to 1.7 million, and 4.7 million workers remained stuck in part-time roles. Labor force participation stayed flat at 62.6%.

Elyse Ausenbaugh of JPMorgan Wealth Management said, "April may have been the last month before trade wars and policy shifts hit jobs data. Signs like manufacturing declines hint at coming pressures."