Unemployment Rate Holds At 4.2%

By: bitcoin ethereum news|2025/05/02 22:00:04
0
Share
copy
Topline The labor market showed signs of steadiness in April as the U.S. added more jobs than expected, according to a Bureau of Labor Statistics report out Friday morning, as the economy walks the recession tightrope. Goldman Sachs forecasts unemployment will spike to 4.7% by year’s end, the highest level since ... More September 2021. Key Facts The U.S. added 177,000 non-farm jobs from March to April, the Labor Department said. Economists expected job growth of 133,000, according to median forecasts compiled by Dow Jones. The unemployment rate was 4.2% last month, meeting projections of 4.2%, where it stood last month. But the Labor Department revised down February and March job growth by 15,000 and 43,000, respectively, equating to 58,000 fewer positions added than previously reported. “Employment strong,” President Donald Trump celebrated in a post to his Truth Social platform following the release. Crucial Quote “No signs of tariff stress in the labor market yet—strong hiring and stable wages,” Jamie Cox, managing partner for Harris Financial Group, wrote in emailed comments. Big Number $36.06. That was the average hourly earnings for non-farm American workers in April, a new record. Wages grew 3.8% year-over-year, outpacing both of the most commonly cited measures of inflation, a sign of strength for consumers’ spending power. Key Background A handful of companies have announced layoffs tied to tariffs, including automakers General Motors and Stellantis, while delivery giant UPS said this week it expects to cut 20,000 positions this year. There were about 603,000 announced layoffs through 2025’s first five months, a year-over-year increase of 87%, according to job placement firm Challenger, Gray & Christmas. Challenger traces about 48% of 2025’s job cuts to the Department of Government Efficiency (DOGE), the Elon Musk-led White House division reshaping the federal government. Economists largely view whether the U.S. enters a recession this year as a tossup. Gross domestic product, the most comprehensive measure of economic activity, registered its worst reading since early 2022 during the first quarter, shrinking 0.3%. What To Watch For Whether recession angst results in labor market deterioration. Goldman Sachs forecasts the unemployment rate will end 2025 at 4.7%. That would be the highest jobless rate since September 2021. Excluding the 2020-21 spike, the unemployment rate had not been 4.7% or higher since January 2017, the first month of Trump’s initial stint in the Oval Office. Further Reading Forbes Tariff Layoff Tracker: Mack Trucks, Volvo Cut Hundreds Of Jobs As Trump’s Levies Pose ‘Market Uncertainty’ By Ty Roush Forbes DOGE Accounts For Nearly Half Of All 2025 Layoffs, Report Finds By Molly Bohannon Source: https://www.forbes.com/sites/dereksaul/2025/05/02/us-added-177000-jobs-in-april-as-unemployment-rate-holds-at-42/

-- Price

--

You may also like

Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026

MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.

Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million

Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.

White House Discusses CLARITY Act With Law Enforcement Ahead of Senate Vote

The White House discussed the CLARITY Act with law enforcement ahead of a Senate vote, focusing on illicit finance risks and developer protections.

$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage

Despite the accelerated migration of Korean funds from cryptocurrency to the stock market, the Korean market remains an important barometer for global cryptocurrency retail liquidity and recovery turning points.

Bitcoin Trading Guide 2026: Strategies for Experienced Traders

Learn spot and futures trading strategies, risk management tips, and a realistic BTC trade setup in this bitcoin trading guide. Read the full analysis on WEEX.
 

What Is XAUT and PAXG? Why Tokenized Gold Is Booming in 2026

Gold prices surged, corrected, and returned to the spotlight in 2026. Discover what's driving gold and silver markets, explore XAUT and PAXG, and see why tokenized gold is attracting traders worldwide.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com