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US job market shows resilience with 177,000 new jobs, federal cuts continue
US job market shows resilience with 177,000 new jobs, federal cuts continue
US job market shows resilience with 177,000 new jobs, federal cuts continue

Published on: 05/02/2025

Description

The United States added 177,000 jobs in April, despite nearly 9,000 federal workers losing their positions, according to a new report from the Bureau of Labor Statistics.

In Friday's report, the BLS indicated that there was no change in the unemployment rate between March and April, as it remained at 4.2%.

The U.S. government has been in the process of shrinking its workforce since President Donald Trump took office in January. Since then, the federal workforce has decreased by 26,000. However, the report notes that federal employees who have been placed on paid leave or severance are still counted as employed.

RELATED STORY | McDonald's sales sink in the worst quarter for the company since the pandemic

On average, the U.S. has added 152,000 jobs per month over the last year. In the past decade, the country typically added 1.9 million jobs per year, or approximately 160,000 workers per month. The unemployment rate has generally held steady over the last two years, remaining around 4% throughout most of 2023 and 2024.

This announcement comes at a time of uncertainty regarding the economy's future. President Trump implemented 10% tariffs on most imports into the U.S., along with 25% duties on steel and aluminum imports. Additionally, the president imposed a 145% import tax on Chinese-made products.

Whether these impacts are positive or negative for the U.S. job market remains to be seen, but they have prompted anxiety on Wall Street.

RELATED STORY | Trump administration says parents will choose quality over cost in toy purchases

President Trump has defended the tariffs, claiming they would help revive the manufacturing industry, which has lost over 5 million workers since the beginning of the century. As of April, there has been no significant change in manufacturing employment since he took office.

U.S. workers have also continued to see their earnings improve relative to inflation. In April 2025, U.S. workers were making 3.8% more per hour compared to April 2024. Workers were also earning 4.1% more per week last month compared to a year prior.

The most recent consumer inflation rate, reflected in March's consumer price index report, was 2%.

News Source : https://www.kbzk.com/politics/economy/u-s-job-market-shows-resilience-with-177-000-new-jobs-federal-cuts-continue

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