US shocks Wall Street, adds 177,000 jobs in April as wages rise
“This is the second month in a row where the jobs report has beat expectations,” White House Press Secretary Karoline Leavitt said.
The US jobs report passed expectations for the second month in a row in April, with 177,000 jobs being added to the economy, soaring past analysts’ expectations. Wages also rose and the labor force participation rate has increased.
Analysts were forecasting job growth in the US economy of around 133,000, but that was surpassed by over 40,000 jobs, with 177,000 jobs being added in April, the Wall Street Journal reported.
“This is the second month in a row where the jobs report has beat expectations. Wages are continuing to rise and labor force participation is increasing. This is exactly what we want to see. More Americans working for higher wages. More winning is on the way!” White House Press Secretary Karoline Leavitt said of the jobs report.
A press release from the Bureau of Labor Statistics stated that “employment continued to trend up in health care, transportation and warehousing, financial activities, and social assistance. Federal government employment declined.” This after Trump and his DOGE worked to shrink the size of federal government. Additionally, average hourly earnings also rose by 6 cents and the labor force participation rate increased by 0.1 percent.
Federal employment numbers by 9,000 and are down by 26,000 since January, likely in connection to the cuts that the Trump administration has been implementing with the staff at the Department of Government Efficiency.
The report offers a window into the first month where Trump’s tariffs went into effect on goods from various countries throughout the world. On April 2, Trump announced a number of “reciprocal tariffs” on various nations but subsequently paused the majority of them for 90 days in order to negotiate on trade.
Tariffs on China, however, were increased, with the exception of some carveouts. A widespread 10 percent tariff still went into effect on most goods entering the United States.
The jobs report comes after there have been concerns about the impact that the tariff war would have on the markets as well as employment numbers. After the report dropped on Friday, there was a slight uptick in the stock market.
