April jobs report expected to show modest U.S. payroll gains
April payrolls outlook points to slower but stable U.S. job growth See what the jobs report may mean for wages, hiring, and the Fed
The U.S. Bureau of Labor Statistics is expected to report on Friday morning that April payrolls rose by about 55,000, a pace that is slow by recent standards but still consistent with a stable labor market. The unemployment rate is forecast to remain near 4.3%.
Economists say the overall picture is one of cooling but resilient hiring. March added 178,000 jobs, but broader trends remain softer, with the 12month average at just 22,000 and weakness outside health care.
The report is also expected to highlight uneven wage growth. Analysts note that higher earners have seen stronger income gains than lower earners, while inflation has continued to weigh more heavily on households at the bottom of the income scale. Smallbusiness hiring has also shown signs of strain.
For Federal Reserve policymakers, the data will add to an already mixed outlook. Some officials see signs of labor market stability, while others point to slower hiring and softer survey data as evidence of gradual weakening.