US job growth surprises in April as unemployment holds at 4.3% amid oil shock
US job growth surprises in April as unemployment holds at 4.3% amid oil shock
U.S. employers added 115,000 jobs in April, beating forecasts while unemployment stayed at 4.3%, even as Iran-related oil shocks loom over prices.
WASHINGTON — U.S. employers added 115,000 jobs in April, and the unemployment rate held steady at 4.3%, the Labor Department said. The March figure was revised higher to 185,000, underscoring labor-market resilience even as the Iran conflict rattles global oil markets. Economists had expected a smaller gain, with forecasts around 62,000.
The report highlighted volatility in payroll data in recent months, with revisions and model adjustments contributing to swings. Analysts advise looking at the three-month moving average to gauge the underlying trend.
Oil and gasoline prices have risen amid the conflict, but it is too early to tell how much demand will be affected or how wage growth will behave in the coming months.
From a policy perspective, the data give the Federal Reserve room to hold rates steady for a while, even as inflation remains a concern.
Still, economists warn the impact of the Iran situation could lag, and the job market could slow if energy costs stay high or if immigration or population trends shift.
