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US Employers Add 177,000 Jobs, Solid Pace in Face of Tariffs
Posted
May 2, 2025
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5:16Now PlayingUS job growth was robust in April and the unemployment rate held steady despite deep uncertainty over President Donald Trump’s trade policies, which economists expect will dent hiring plans over the coming months.
Nonfarm payrolls increased 177,000 last month after the prior two months’ advances were revised lower, according to Bureau of Labor Statistics data out Friday. The unemployment rate was unchanged at 4.2%.
The report suggests the labor market continues to cool gradually, a sign that businesses facing heightened uncertainty around tariffs and turmoil in financial markets didn’t significantly alter their hiring plans. Most economists anticipate the brunt of the impact from punishing levies will be seen in coming months.
Claudia Sahm, Chief Economist at New Century Advisors, reacts to the latest nonfarm payrolls data and explains how the US may be able to avoid a recession. Dr. Sahm speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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