
In an assessment of the U.S. job market following last month’s tariff announcements, it appears to remain resilient. According to the Bureau of Labor Statistics, 177,000 jobs were added in April, exceeding expectations of 130,000 and revised figures for March, which were at 185,000.
The unemployment rate remained stable at 4.2%. In the immediate aftermath of the job report, Bitcoin’s price dipped slightly to $96,700. Meanwhile, U.S. stock futures showed positive momentum, with both the Nasdaq and S&P 500 rising by 0.7%.
This report may temper projections regarding upcoming Federal Reserve rate cuts, as market expectations had previously shifted towards anticipating cuts in the near future. The U.S. 10-year Treasury yield reflects this change, rising to 4.27% following these unexpectedly positive employment figures.
Average hourly earnings saw a modest increase of 0.2% in April, which was below the anticipated 0.3%, while year-over-year earnings rose by 3.8%, slightly under the projected 3.9%.