US adds 115K jobs in April, unemployment rate holds at 4.3%
The US economy added 115,000 jobs in April while unemployment remained stable at 4.3%, impacting financial markets and Federal Reserve expectations.Summary
In April, the US economy surpassed expectations by adding 115,000 nonfarm payrolls, while the unemployment rate remained steady at 4.3%. Gains were primarily driven by the healthcare, retail, and leisure sectors. Although job growth was robust, average hourly earnings rose by only 0.2%, falling slightly short of the 0.3% forecast and suggesting that wage inflation may not be spiraling.
Financial markets reacted quickly to the news, as crypto markets saw significant volatility and over $341 million in liquidations. The strong headline employment data reduced expectations for near-term Federal Reserve rate cuts, contributing to higher Treasury yields and a stronger US dollar. However, analysts note that moderating inflation expectations and global uncertainties, such as geopolitical tensions in Iran, remain key factors that could still influence the Federal Reserve's monetary policy decisions later this year.
(Source：Crypto Briefing)