The U.S. labor market continued to show at least modest strength in April, according to data released Friday by the Bureau of Labor Statistics.
The economy added 115,000 jobs during the month, well above economists’ expectations of 62,000, though down from 185,000 in March (revised from the 178,000 originally reported).
The unemployment rate remained at 4.3%, in line with forecasts.
bitcoin It was trading at $80,200 in the minutes after publication, roughly unchanged in the past 24 hours. US stock index futures added to earlier gains, the Nasdaq 100 rose 0.9%. The 10-year Treasury yield fell 2 basis points to 4.37%.
The report comes at a delicate time for markets and authorities. The Federal Reserve last week left its benchmark federal funds rate range unchanged at 3.50%-3.75%, extending its holding pattern as officials weigh slowing economic growth against persistent inflation pressures.
The data also comes before a new chairman takes the reins at the Federal Reserve, with Kevin Warsh expected to soon be confirmed by the Senate to replace Jerome Powell later this month.
Although far from their peaks, oil prices have remained high, and uncertainty around the Strait of Hormuz keeps energy markets nervous. Higher crude oil prices risk fueling headline inflation while hurting consumer spending and economic activity.
