Join research director Kathleen Brooks at 13:25 BST for our NFP social market Live. Get the latest US jobs numbers as they come out and see in real time the market reaction.
Get the latest US jobs numbers as they come out and see in real time the market reaction.
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Create account Try a demo Download mobile app Download mobile appThe market is expecting a solid jobs report for April. US non-farm payrolls are expected to expand by 138k, and the unemployment rate is expected to remain steady at 4.2%. Average hourly earnings are expected to nudge higher to 3.9% YoY, from 3.8%.
This report is likely to suggest that the US labour market, although slowing, is far from falling off a cliff. However, there could be signs of the slow down to come and it is worth noting the breadth of job creation. There are concerns that job growth is narrowing, as a growing number of sectors scale back hiring due to heightened economic uncertainty caused by President Trump’s tariff policies. Declining tourism could hit job creation in the leisure and hospitality sector, while transport and logistics jobs could have been hit in March due to the first wave of tariffs implemented in February. Since tariffs have only increased since then, and with news that container shipments from China to the US slowed sharply last month, we can expect more jobs in transport and logistics to be shed in May.
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