Despite uncertainty brought on by trade policy changes, hiring in the US was steady last month. According to the Labour Department, employers created 177,000 new positions in April, although the unemployment rate remained constant at 4.2%.
In a month characterised by financial market turmoil and growing economic concerns reflected in business and household surveys, the advance was greater than many experts had anticipated.
Analysts have been startled by how resilient the US labour market has been in recent years, supporting consumption despite rising prices and a steep increase in borrowing rates for individuals.
According to the most recent statistics, there is some optimism that the nation will withstand the uncertainty caused by tariff policy without experiencing a severe economic crisis. However, experts cautioned that it would take more time for the effects of Donald Trump’s broad import taxes to become completely apparent.
Although changes revealed that companies gained fewer positions in January and February than first thought, Olu Sonola, head of US economic research at Fitch Ratings, said the employment data was still positive.
“The key message gathered from everything gathered this week is that the US economy was incredibly healthy through the first week of April, however, the outlook remains very uncertain,” he stated.
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