by Patrick Glynn 
The U.S. economy added 177,000 jobs in April, the Bureau of Labor Statistics reported Friday. Unemployment remained unchanged at 4.2%. The U.S. has now added an estimated 575,000 jobs over the first four months of 2025—about 30,000 fewer jobs per month than 2024. However, a slower growing job market has been expected through the end of 2024 into the start of 2025.
Other economic data released over the previous month include:
- The majority of job gains occurred in the following industries: healthcare (+51,000), transportation and warehousing (+29,000), financial services (+14,000), and social assistance (+8,000).
- Government employment declined by 9,000 jobs in April and is down 26,000 jobs since the start of 2025.
- Wages increased by 3.8% year-over-year in April, the lowest year-over-year growth since 2021. Wage growth has slowly trickled down closer to inflation measures over the last 18 months.
- The Consumer Price Index (2.4%) and Personal Consumption Expenditures Price Index (2.3%) both ticked downward year-over-year.
- U.S. GDP fell 0.3% in the first quarter of 2025 for the first time since Q2 2025.
- Consumer confidence fell to its lowest reading since May 2020.
- The Conference Board said, “The three expectation components—business conditions, employment prospects, and future income—all deteriorated sharply, reflecting pervasive pessimism about the future.
- ADP, the private payroll provider, reported the private sector added 62,000 in April.
“This is one of those straightforward reports. Good enough and not too hot,” Samuel Rines, a macroeconomic strategist at Wisdom Tree, told the New York Times. “And the decline in manufacturing employment was minimal — for now. That is the line item to watch as tariffs begin to flow through to the labor market.”
by Jade Gilley 
by Emilie Skaug