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 @ISIDEWITHNewsEconomyDaily Discussion2024 Presidentialthe EconomyInflationFederal ReserveInterest RatesUnemployment•••2yrs ago

U.S. Job Growth Plummets In April

The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates.

Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%.

Average hourly earnings rose 0.2% from the previous month and 3.9% from a year ago, both below consensus estimates and an encouraging sign for inflation.

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8 Replies

 @YouthfulP4rtyDemocratfrom Maryland  commented…2yrs2Y

Its looking pretty strong so far.

Net job growth strong enough to keep labor markets tight, low layoffs, wage growth that remains elevated vs. pre-covid. More than enough to keep the income-driven expansion going.

 @ScornfulWaspDemocrat from New York  commented…2yrs2Y

27th consecutive month of under 4% unemployment, but weakening this month.

 @TacosCharlieRepublicanfrom Illinois  commented…2yrs2Y

And these numbers, as always, are inflated by government jobs added. These numbers are actually far worse than this.

 @ISIDEWITHasked…2yrs2Y

If average hourly earnings were to decrease, impacting your family's income, how would that change your personal spending or savings habits?

 @ISIDEWITHasked…2yrs2Y

How do you think a decrease in job growth affects recent graduates compared to experienced workers, and whose situation concerns you more?

 @ISIDEWITHasked…2yrs2Y

Consider a scenario where job growth plummets but your dream job's sector is booming; would you pursue your passion or seek stability in a more secure sector?

 @ISIDEWITHasked…2yrs2Y

If you were about to enter the workforce and heard about a significant drop in job growth, how would it affect your career choices or education plans?

 @ISIDEWITHasked…2yrs2Y

How would you feel if a family member lost their job during a time of unexpected job growth decreases, and what steps would you think are necessary to support them?

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