The United States labor market, which has demonstrated resilience for a long period, continues to defy expectations in a positive sense even amid increasing uncertainty related to the trade war.
In April, the US economy added 177,000 jobs. On Friday, May 2, the relevant information was published by the United States Bureau of Labor Statistics. At the same time, in this case, there was still a slowdown in the growth rate of the indicator after March’s downward revised 185,000 gains. However, the April upward dynamic turned out to be stronger than the average pace of monthly job growth in the first three months.
The unemployment rate in the United States showed no change last month. Currently, the corresponding figure is 4.2%. It is worth noting separately that this reading is historically low.
It is also noteworthy that the April increase in jobs in the United States exceeded the preliminary expectations of experts. Economists surveyed by data company FactSet predicted that 135,000 jobs would be added to the US in the mentioned month.
On Friday morning, United States stocks showed growth. The Dow increased by 1.2%. The broader S&P 500 rose 1.15%. The tech-heavy Nasdaq Composite increased by 1%.
The positive April jobs report was published at a time of increasing concern about the likelihood of a recession scenario in the United States economic system.
As part of the recovery after the coronavirus pandemic, the labor market has become a kind of pillar for the US economy. Currently, there is no certainty that this tendency will continue due to the present Washington trade policy, which provides for high tariffs on goods imported from almost all over the world.
As we have reported earlier, US Economy Shrinks.
