April jobs report signals steady labor market
April jobs report signals steady labor market
With 177,000 jobs added and wages outpacing inflation, employment is a bright spot in the economy
April jobs report signals steady labor market
With 177,000 jobs added and wages outpacing inflation, employment is a bright spot in the economy
05.02.2025
Listen
·April jobs report signals steady labor market
The U.S. labor market added 177,000 jobs in April, according to the Bureau of Labor Statistics, a sign of resilience during evolving economic conditions, and more than the 138,000 forecast by economists.1,2
Unemployment remained unchanged at 4.2%, continuing to hold steady between 4.0% and 4.2% since May 2024.3
The labor report shows that the healthcare industry led in job creation, adding 51,000 positions in April, with strong hiring in hospitals and ambulatory care services.4 Transportation and warehousing added 29,000 jobs. Financial activities jobs grew by 14,000, continuing its upward trend, adding 103,000 jobs since April 2024.
Over the past 12 months, there has been an average monthly job gain of 152,000. So far this year, the average monthly job gain is at 174,750, with a spike of 228,000 jobs in March--a likely rebound after wildfires and bad weather had slowed job growth in January and February.5,6
Read more: Game plan for managing investment market volatility
Wages go up
Wages also saw moderate gains. Average hourly earnings rose 0.2% month over month and 3.8% over the past year, edging out inflation.7
The report comes on the heels of the federal administration’s April 2 announcement of increased tariffs on a range of imports, known as the Liberation Day tariff package.8
Read more: Between the Margins: April 2025 economic and market commentary
Job market solid amid uncertainty
While broader economic indicators are mixed with first-quarter GDP growth coming in this week below expectations at 0.3%, and inflation at 2.4% in March, slightly above the Federal Reserve’s 2% target — the labor market continues to offer stability with steady hiring and wage gains.9,10
Get financially happy
Put your money to work for life and play
1 U.S. Bureau of Labor Statistics, “Employment Situation Summary,” May 2025
2 Yahoo Finance, “April jobs report shows US labor market remained resilient in wake of ‘Liberation Day’ tariff announcement,” May 2025
3 U.S. Bureau of Labor Statistics, “Employment Situation Summary,” May 2025
4 U.S. Bureau of Labor Statistics, “Employment Situation Summary,” May 2025
5 U.S. Bureau of Labor Statistics, “Employment Situation Summary,” May 2025
6 CNN, “The US economy added 228,000 jobs last month, but the unemployment rate ticked up,” April 2025
7 Yahoo Finance, “April jobs report shows US labor market remained resilient in wake of ‘Liberation Day’ tariff announcement,” May 2025
8 ABC News, “Hiring slowed in April amid turmoil set off by Trump’s ‘Liberation Day’ tariffs,” May 2025
9 AP, "U.S. economy shrinks 0.3% in first quarter as Trump trade wars disrupt businesses,” April 2025
10 Federal Reserve, “Economy at a Glance – Inflation (PCE),” Accessed May 2025
RO4463930-0525
Want to stay in the know?
The Currency editors
Staff contributors
The CurrencyTM, a publication from Empower, covers the latest financial news and views shaping how we live, work, and play. We keep you current on ways to plan, save, and invest for life.
The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. No part of this blog, nor the links contained therein is a solicitation or offer to sell securities. Compensation for freelance contributions not to exceed $1,250. Third-party data is obtained from sources believed to be reliable; however, Empower cannot guarantee the accuracy, timeliness, completeness or fitness of this data for any particular purpose. Third-party links are provided solely as a convenience and do not imply an affiliation, endorsement or approval by Empower of the contents on such third-party websites. This article is based on current events, research, and developments at the time of publication, which may change over time.
Certain sections of this blog may contain forward-looking statements that are based on our reasonable expectations, estimates, projections and assumptions. Past performance is not a guarantee of future return, nor is it indicative of future performance. Investing involves risk. The value of your investment will fluctuate and you may lose money.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.