Overview

• The April jobs report exceeded expectations with 177,000 payroll additions, surpassing forecasts of 133,000.
• The unemployment rate held steady at 4.2%, while the labor force participation rate edged up to 62.6%.
• Federal government employment declined by 9,000 jobs in April, bringing the total cuts since January to 26,000 under the Department of Government Efficiency.
• Healthcare and transportation/warehousing sectors led job gains, adding 51,000 and 29,000 positions respectively.
• Economists caution that the full impact of President Trump's tariffs and federal workforce reductions may emerge in the coming months, potentially dampening future growth.