Even as many worry about the effects of President Trump’s tariffs, the economy seems to be in good shape. The labor market “remains solid,” exceeding expectations in April.

From The Epoch Times. The U.S. labor market remains solid amid a backdrop of uncertainty as the economy created a higher-than-expected number of new jobs.

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According to the Bureau of Labor Statistics, the U.S. economy added 177,000 new jobs in April. This is down from the 185,000 positions created in March …

Last month, the unemployment rate was unchanged at 4.2 percent.

Average hourly earnings held steady at 3.8 percent year over year.

The labor force participation rate edged up to 62.6 percent, and average weekly hours were flat at 34.3.

The consensus forecast indicated 130,000 new jobs and the unemployment rate holding steady at 4.2 percent.

Employment gains were concentrated in health care (51,000), transportation and warehousing (29,000), and financial activities (14,000).

Federal government employment tumbled by 9,000 and has declined by 26,000 so far this year. …

Employed full-time workers increased by 305,000, while part-time employees increased by 56,000. …

Market Reaction

Investors cheered the solid April jobs report, with the leading benchmark averages up nearly 1 percent before the opening bell.

U.S. Treasury yields climbed across the board. The benchmark 10-year yield topped 4.27 percent.

The U.S. dollar index, a metric of the greenback against a weighted basket of currencies including the Japanese yen and British pound, pared most of its losses following the jobs data and is poised for a weekly gain of 0.5 percent.

Chris Zaccarelli, the CIO for Northlight Asset Management, says the investors were pleased with the better-than-expected reading.

“Markets breathed a sigh of relief this morning as the jobs data came in better than expected,” said Zaccarelli. “While recession fears are still simmering on the back burner, the buy-the-dip dynamic can continue—at least until the tariff pause runs out.” …

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(Excerpt from The Epoch Times. Photo Credit: Gwengoat/Getty Images Signature via Canva Teams)