WASHINGTON: US hiring slowed less than expected in April while the jobless rate remained unchanged, according to government data published Friday, buoying investors navigating the early turbulent months of Donald Trump’s second presidency.
Since returning to office in January, Trump has looked to slash the number of federal employees and embarked on a trade war that many economists warn is likely to cool growth and push up inflation.
With Trump’s tariff plans still in their early stages, their effect has not yet filtered through into hiring: The world’s largest economy added 177,000 jobs last month, down slightly from a revised 185,000 in March, the Department of Labor said in a statement.
However, job creation was still well above the market consensus of 130,000, according to Briefing.com, and remained slightly above the average monthly gain over the past 12 months.
The unemployment rate stayed at 4.2 percent, in line with expectations.
US financial markets closed sharply higher on the news, with all three major Wall Street indices ending the day firmly in the green.
“Markets breathed a sigh of relief this morning,” Northlight Asset Management chief investment officer Chris Zaccarelli wrote in a note to clients.
“While recession fears are still simmering on the back burner, the buy-the-dip dynamic can continue — at least until the tariff pause runs out,” he said, referring to Trump’s recent decision to pause higher levies on dozens of trading partners until July to allow for trade talks.
Trump took to his Truth Social account after the data was published to talk up the “strong” employment figures.
“Just like I said, and we’re only in a TRANSITION STAGE, just getting started!!!” the US president wrote.
“NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!” added Trump, who has been outspoken in his calls for the Federal Reserve to lower interest rates.
The independent central bank has kept its key lending rate at between 4.25 and 4.50 percent for months, as it looks to bring inflation from its current elevated levels to its long-term target of two percent while keeping one eye firmly fixed on the unemployment rate.
Financial markets overwhelmingly expect the Fed to extend its rate cut pause next week, according to data from CME Group.


Sectors that saw job gains last month included health care, transportation and warehousing, financial activities, and social assistance, the Labor Department said.
But federal government employment declined by 9,000 in April, bringing the total decline in the number of government employees since January to 26,000.
The Trump administration is facing legal action after attempting to lay off tens of thousands of federal workers as part of an aggressive cost-cutting drive.
Average hourly earnings grew 0.2 percent to $36.06 in April, the Labor Department said Friday.
“There is nothing to complain about here,” High Frequency Economics chief economist Carl Weinberg wrote in a note to clients. “You cannot find any evidence of a nascent recession in these figures.”
While traders may breathe easier today, many analysts have stressed that it is still early days for the new administration, and warned they still expect tariffs to cool job creation in the future.
“It will be extraordinary if employment is unscathed this year by the jump in tariffs on imports, the drop in asset prices and the extreme economic policy uncertainty,” economists at Pantheon Macroeconomics wrote in an investor note published on Monday.
These factors are likely “causing many businesses to defer non-essential spending,” they added, noting that they had not yet seen any significant changes in the payroll data they track.

MANCHESTER: Manchester City moved closer to qualifying for the Champions League as Kevin De Bruyne sealed a vital 1-0 win against Wolves on Friday.
Pep Guardiola’s side are embroiled in a tense battle for a top five finish in the Premier League and De Bruyne lifted them to third place with his first half strike at the Etihad Stadium.
For just the second time in a turbulent campaign, City have reeled off five successive wins in all competitions.
It was a major boost to City’s hopes of securing a place in Europe’s elite club competition.
“We are better than we were weeks ago. If we play like we did today, it is really good but we cannot relax. Winning in that way is good because it will make us realize that we still need to work,” Guardiola said.
After 10 years with City, it was De Bruyne’s penultimate appearance at the Etihad after the midfielder was told he will not get a new contract when his present deal expires at the end of the season.
It was only the sixth goal this season for the 33-year-old Belgian, underlining why Guardiola has decided to release him after an injury-plagued decline over the last two years.
But De Bruyne’s contribution could be crucial for City, who have three matches left and hold a four-point advantage over sixth-placed Nottingham Forest, who play their game in hand against Crystal Palace on Monday.
Fourth-placed Newcastle and fifth-placed Chelsea also have a game in hand over City heading into the weekend’s fixtures.
Hinting he could stay in the Premier League after leaving City, De Bruyne said. “A lot of teammates have said that it’s sad I have to go, but that’s just how it goes sometimes in life.
“I don’t know what the future will be, but I know that I can still play here. I try to play as much good football as I can. I’m still enjoying it.”
Guardiola saluted De Bruyne, saying: “Just thank you. His contribution in the game against Crystal Palace when we were 2-0 down and he delivers, and today the goal again.
“I want the best for Kevin. It cannot be possible to have done these many years without him.
“He has been an incredible player but the situation is what it is. It’s almost impossible to replace this kind of player.”
Even qualifying for the Champions League and winning the FA Cup final against Crystal Palace will not salvage the season in Guardiola’s eyes after their four-year reign as English champions came to a limp end.
Surrendering the title to Liverpool was bad enough, but missing out on a place in the Champions League for the first time since 2010-11 would be a complete catastrophe and this result kept them on course to avoid that fate.
Guardiola sprang a surprise by naming Erling Haaland as an unused substitute as the Norway striker returned ahead of schedule from the ankle injury he suffered at Bournemouth in March.
Wolves arrived buoyed by six successive top-flight victories for the first time since 1970-71 and their confidence was clear after such a successful streak.
Not for the first time this season, City were creaking at the back.
They rode their luck to escape as Rayan Ait-Nouri fired against the post from close-range before his effort from the rebound was cleared off the line by Josko Gvardiol.
Guardiola’s men recovered their composure and the breakthrough came in the 35th minute with the kind of flowing move that has been City’s trademark in De Bruyne’s decade in Manchester.
Ilkay Gundogan made a break from midfield and slipped his pass to Jeremy Doku, who deftly eluded his marker before pulled the ball back to the unmarked De Bruyne.
Having cleverly found space just inside the Wolves area, De Bruyne held his nerve to slot past Jose Sa, a finish that showed City what they will miss next season.
Wolves still carried a threat and Matheus Cunha rattled the post with a stinging strike from the edge of the area in the second half.