President Trump will undoubtedly be celebrating another great jobs report, where jobs over doubled expectations for the month of April.
Here’s more via CNBC:
Job creation was better than expected in April, as the plodding U.S. labor market continued to defy expectations for a more aggressive slowdown this year, the Bureau of Labor Statistics reported Friday.
Nonfarm payrolls rose by a seasonally adjusted 115,000 for the month, down from the 185,000 created in an unusually strong March, but better than the 55,000 forecast in the Dow Jones consensus estimate.
The unemployment rate held at 4.3%, further proof that the labor market has reached a point where only modest job creation is needed to keep the jobless level steady, given little growth in the labor force.
Average hourly earnings, another closely watched metric of labor market health, came in lower than expected, increasing 0.2% for the month and 3.6% on an annual basis, compared with respective estimates for 0.3% and 3.8%.
Stock market futures held onto gains following the release while Treasury yields were lower.
Following recent trends, healthcare led with 37,000 new positions, though multiple other sectors also saw gains.
Transportation and warehousing added 30,000, retail grew by 22,000, and social assistance saw a gain of 17,000.
Secretary Loffler writes: “Another blockbuster jobs report for the month of April, with 115,000 jobs added to the economy, largely led by small business expansion. Confident job creators invest in new employees. That is exactly and undeniably what’s happening now thanks to the massive tax cuts and deregulation of @POTUS.”