US job growth surprises to upside in April, with the unemployment rate steady at 4.3%
This report adds to the signs of labor market stabilization.
US job growth surprised to the upside yet again in April, continuing to diminish any lingering fears about risks to the economy and labor market.
Nonfarm payrolls rose by 115,000 for the month, according to the Bureau of Labor Statistics, with the unemployment rate flat at 4.3%. Expectations among economists were for 65,000 jobs to be added with the unemployment rate holding steady at 4.3%.
Event contracts were more optimistic, predicting job growth above 70,000 and closer to 90,000 heading into this report.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Two-year Treasury yields were little changed following this print, while the SPDR S&P 500 ETF modestly extended premarket gains.
This report adds to the signs of labor market stabilization, which include the decline in Americans filing for unemployment benefits and a massive upside surprise in job growth for the month of March.
At the same time, average hourly earnings increased 3.6% year on year, slower than the expected 3.8%, which helps explain why the bond market is having a muted response to the data.
Expectations for when the Federal Reserve might reverse course and begin raising interest rates were unchanged in the wake of this release, with event contracts indicating the most likely timing is the second half of 2027.
