The US Department of Labor announced the latest employment data today (May 2), revealing that 177,000 non-farm jobs were added in April, with the unemployment rate holding steady at 4.2%. Interpretations of the latest employment data vary. Bloomberg, CNN, and the Financial Times reported that non-farm employment exceeded expert forecasts, while the New York Times and the Wall Street Journal stated that the latest figures show a stable job market. Reuters noted a slight slowdown, yet still higher than the economists' estimate of 130,000.
Factors Affecting the Job Market
The New York Times emphasized that the global tariff list announced by President Trump earlier last month has not shown a significant impact on the job market, indicating that the uncertainties stemming from tariffs have not been reflected at least until mid-April. However, the transportation and warehousing sector has seen a continuous increase in new jobs in recent months, adding 29,000 jobs in April. This indicates that businesses are accelerating hiring and imports to mitigate the impact before tariffs take effect. Trump announced on April 9 a 90-day suspension of new tariffs, during which a 10% baseline tariff will be imposed. US stock indexes reacted calmly before the opening, showing slight gains; the Dow Jones rose 83.6 points or 0.21%, the S&P 500 rose 35.08 points or 0.63%, and the Nasdaq rose 264.4 points or 1.52%. March's non-farm employment was revised to 185,000.