The US economy added a stronger-than-expected 177,000 jobs in April
CNN
The long-resilient jobs market continues to defy expectations — even in the wake of swirling uncertainty.
America’s long-resilient job market continues to defy expectations — even in the wake of swirling uncertainty. The US economy added a surprisingly strong 177,000 jobs in April, a slight slowdown from March’s downwardly revised 185,000 gains, according to Bureau of Labor Statistics data released Friday. April’s gain was stronger than the average pace of monthly job growth in the prior three months. Meanwhile, the unemployment rate was unchanged at 4.2%, a historically low level. Economists polled by data firm FactSet were expecting the economy to have added just 135,000 jobs last month, and that the unemployment rate held at 4.2%. US stocks moved higher Friday morning as investors digested the report. The Dow rose 490 points, or 1.2%. The broader S&P 500 rose 1.15% and the tech-heavy Nasdaq Composite gained 1%. April’s jobs report marks another solid month of employment gains and a continuation of a historic expansion of the labor market, but that’s on the backdrop of growing recession fears.
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