U.S. employers added 115,000 jobs in April, more than economists expected, while the unemployment rate held at 4.3%. The Labor Department also revised March’s gain up to 185,000.
Where the jobs were. Healthcare and social assistance added nearly 54,000 jobs, and transportation and warehousing added more than 30,000, especially couriers and messengers. Information employment fell by 13,000, and financial activities dropped by 11,000.
Fed patience
The April report gave the Federal Reserve another reason to stay put. Reuters said the data reinforced expectations that the Fed would leave rates unchanged for some time, and CNBC reported that traders have priced out any rate cut through April 2031.
That case got extra support from Fed officials saying inflation is still too hot. Chicago Fed President Austan Goolsbee said inflation has been above the 2% target for five years and that the last three months have moved up, not down. He also said the March consumer price index pointed to 3.3% inflation.
- March payrolls were revised up to 185,000 from 178,000, while February was revised down to a loss of 156,000.
- The Reuters report said economists thought it was too early to see any effect from the U.S.-Israeli war with Iran on the April jobs data.
- CNBC said three regional Fed presidents voted against the post-meeting statement last week because they objected to language that hinted at a future cut.
The labor market has been choppy since mid-2025, with payrolls swinging between gains and losses. April’s 115,000 jobs is not a blowout, but it was enough to keep the unemployment rate steady and leave the Fed with no clear reason to cut at its next meeting in June.
