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BREAKING NEWS: U.S. Job Growth Tops Expectations in April
Nonfarm payrolls increased by 115,000 in April, well above expectations of 55,000, while the unemployment rate held steady at 4.3%. Revisions to prior months were mixed, with February payrolls revised down by 23,000 to -156,000 and March revised up by 7,000 to 185,000. On net, employment over the two-month period was 16,000 lower than previously reported.
Both the labor force participation rate, at 61.8%, and the employment-population ratio, at 59.1%, changed little in April.
Job gains were concentrated in health care, transportation and warehousing, and retail trade, suggesting continued demand in service-oriented and logistics sectors. At the same time, federal government employment continued to decline.
Despite the headline beat, hiring momentum remains restrained. Employers have largely stayed on the sidelines, reluctant to expand headcount but also avoiding widespread layoffs, as they navigate uncertainty tied to tariffs and elevated interest rates.
Housing, Policy, & Investment Collide at Connect LA on May 28th
Housing pressure, infrastructure investment, entitlement complexity, and affordability challenges are reshaping LA in real time. At Connect Los Angeles, hear directly from Mayor Karen Bass, Antonio Villaraigosa, CBRE’s Lew Horne, Cityview’s Con Howe and other top CRE leaders as they discuss the policy and investment decisions defining LA’s next cycle of growth. Register here: Connect Los Angeles 2026
- ◦Economy
