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WASHINGTON, May 8 (Reuters) – U.S. employment increased more than expected in April while the unemployment rate held steady at 4.3%, pointing to labor market resilience and reinforcing expectations that the Federal Reserve would leave interest rates unchanged for some time.
Nonfarm payrolls increased by 115,000 jobs last month after an upwardly revised 185,000 advance in March, the Labor Department’s Bureau of Labor Statistics said in its closely watched employment report on Friday. Economists polled by Reuters had forecast payrolls rising by 62,000 jobs after a previously reported 178,000 rebound in March.
Estimates ranged from a loss of 15,000 jobs to a gain of 150,000 positions. Economists said it was too early for the effects of the U.S.-Israeli war with Iran to show. The conflict has raised gasoline and diesel prices as well as the cost of other commodities that are shipped through the Strait of Hormuz.
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