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Hiring in the US remained solid last month, despite turmoil stemming from changes to trade policy.<\/p>\n
Employers added 177,000 jobs in April, while the unemployment rate was unchanged at 4.2%, the Labor Department said.<\/p>\n
The gain was bigger than many analysts had expected in a month marked by chaos in financial markets and rising concerns about the economy tracked in surveys of businesses and households.<\/p>\n
The resilience of the US jobs market over the last few years has surprised analysts, helping to sustain spending even as households faced rising prices and a sharp jump in interest rates.<\/p>\n<\/div>\n
The latest figures have raised some hopes that the country may be able to weather the uncertainty from tariff policy without suffering a painful economic downturn. <\/p>\n
But analysts expressed caution, noting that the impact of the sweeping import taxes announced by Donald Trump would take more time to be fully felt. <\/p>\n
Many firms have said they are moving cautiously for now, citing rapid changes in policy and hope that Trump’s promises of trade deals will bear fruit. <\/p>\n
Hiring last month was led by healthcare, warehousing and transportation firms. <\/p>\n
Employment declined in the federal government – where Trump has vowed to cut spending – but was offset by gains in local government. <\/p>\n
Payrolls dropped at manufacturing and retail firms. <\/p>\n
“The US labour market remained resilient in April with employment surprising to the upside and the unemployment rate remaining steady,” said Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management:<\/p>\n
“With the forward-looking outlook having deteriorated, however, today’s data feels somewhat backward-looking.”<\/p>\n
Seema Shah, chief global strategist at Principal Asset Management, agreed that the economy is likely to weaken in the coming months, but said: “With this underlying momentum, the US has a decent chance of averting recession if it can step back from the tariff brink in time.”<\/p>\n<\/div>\n