U.S. added 115,000 jobs in April as economy contends with Iran war impact

Recent economic data shows the U.S. labor market remains resilient, with 115,000 jobs added in April despite global energy shocks. The unemployment rate held steady at 4.3%. Prior months saw revisions: February employment was adjusted downward by 23,000 to -156,000, while March was revised upward by 7,000 to +178,000.

Key Insights

• Healthcare led job gains, adding 37,000 roles (consistent with its 12-month average of 32,000).
• Transportation and warehousing grew by 30,000 jobs, and retail added 22,000.
• Part-time employment for economic reasons rose by 445,000 to 4.9 million, reflecting reduced hours or inability to find full-time work.
• Information technology saw a contraction of 13,000 jobs.
• Little change occurred in mining, construction, manufacturing, wholesale trade, financial activities, professional/business services, leisure/hospitality, and other services.

Economic Context

• Oil prices surged over 50% since the start of the year, with retail gas prices exceeding $4.55/gallon.
• Inflation rose to 3.3% in March, while average hourly wages grew 3.6% year-over-year.
• Economists view the report as a positive sign for the Federal Reserve, balancing job growth with stable unemployment and contained wage pressure.