US Job Growth Holds Steady Amid Trade Policy Uncertainty

Source: BBC News 

The US labour market showed unexpected resilience in April, with 177,000 new jobs added and unemployment remaining at 4.2%, despite market turbulence tied to shifting trade policies. Analysts had forecast a weaker performance due to recent economic uncertainty, but the solid job numbers offered a glimmer of optimism. 

Sectors like healthcare, transportation, and warehousing led the hiring gains, while employment dipped in federal government roles - likely linked to budget cuts - and in manufacturing and retail. Local government hiring offset some of those losses. Wage growth was also notable, with average hourly earnings up 3.8% compared to a year earlier. 

Economists remain cautious, however. The recent tariffs imposed by the Trump administration - pushing US import taxes to their highest levels in over 100 years - have not yet fully impacted the economy, and businesses are adopting a wait-and-see approach. 

Experts like Olu Sonola of Fitch Ratings and Seema Shah of Principal Asset Management agree that while current data shows strength, the outlook remains uncertain. Nonetheless, the current momentum may help the US avoid a recession - if trade tensions ease in time. 

You can read the full BBC article on US Job Growth here. 

In its May Hiring Trends analysis – produced in conjunction with Bullhorn – APSCo reveals a fall in UK hiring with a reduction in the number of new roles added between March and April across permanent and contract. Commenting on these results, and the impact of Trump’s tariffs, Samantha Hurley, APSCo UK’s Managing Director, remained positive: 

 

“There’s no doubt that much of the news coming out of the US is hindering some of the UK recovery, which is certainly disappointing. However, as most businesses are increasingly recognising, fast-paced change is today’s reality and firms need to be able to adapt and respond appropriately. That includes ensuring blips such as this don’t lead to unnecessarily rash decisions. Good people – particularly those in highly skilled remits – are still hard to come by, and employers continue to turn to the best recruiters to source these individuals. Staffing firms need to stand their ground and demonstrate now more than ever, just why they are the valuable asset we know them to be. Following the doom and gloom agenda will only add fuel to the fire.”