Yes, but: Under the surface, there were signs that more Americans struggled to find sufficient work in April
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Friction point: The labor market has found steady footing, a dynamic that might keep labor market-related interest rate cuts off the table as inflation runs hot.
Key facts
The unemployment rate has held in a narrow range between 4.3% and 4.5% for 10 straight months, reflecting remarkable stability in the indicator that Federal Reserve officials are watching most closely
The information sector lost another 13,000 jobs in April, extending a decline that has now erased 342,000 positions, 11% of the sector, since its peak in late 2022
Employers added 115,000 jobs in April after a blockbuster gain of 185,000 jobs (revised upward) the previous month
The pace of hiring reflects a meaningful step up from 2025, when the economy averaged 10,000 jobs a month
Summary
The U.S. labor market has found its footing: A yearlong pattern of whipsawing between job gains and losses is finally breaking, a sign that stabilization is taking hold. The labor market is holding up despite a wall of headwinds, including an energy shock stemming from the Iran war and the uncertainty that comes with the conflict. But this isn't the gangbusters hiring environment of 2022. Still, the firming evident in a range of data lessens the chances for further interest rate cuts this year. What they're saying: "While we're certainly not in the robust labor market we were a few years ago (and there are present and near-future risks), things seem to be stable for now," NerdWallet senior economist Elizabeth Renter wrote in a note Friday morning.