---
title: "First Consecutive Two-Month Growth in a Year! US Non-Farm Employment Adds 115,000 Jobs in April, Far Exceeding Expectations; Unemployment Rate Holds at 4.3%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285731932.md"
description: "US Non-Farm Employment surged by 115,000 in April, far exceeding the expected 65,000, marking the strongest consecutive growth in nearly a year. The unemployment rate remained flat at 4.3%, but wage growth slowed to 3.6% year-on-year, alleviating some inflation concerns. Although the broader unemployment rate rose to 8.2% and the labor force participation rate declined, the resilience of the overall data has bought the Federal Reserve room to wait and see in response to inflationary pressures triggered by the war with Iran, further reducing the urgency for short-term rate cuts"
datetime: "2026-05-08T13:51:37.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285731932.md)
  - [en](https://longbridge.com/en/news/285731932.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285731932.md)
---

# First Consecutive Two-Month Growth in a Year! US Non-Farm Employment Adds 115,000 Jobs in April, Far Exceeding Expectations; Unemployment Rate Holds at 4.3%

The US labor market has demonstrated resilience, with April employment data significantly exceeding market expectations, marking a phase of stabilization after months of stagnation.

Data released by the US Bureau of Labor Statistics on Friday showed that **Non-Farm Employment increased by 115,000 in April, the first consecutive growth in nearly a year, far surpassing the median forecast of 65,000 by economists surveyed by Bloomberg**. March figures were also revised up to 185,000.

The unemployment rate remained unchanged at 4.3%, in line with expectations.

Following the data release, the market reacted positively—stock index futures held their gains, US Treasury yields dipped slightly, and the US dollar softened. However, wage growth missed expectations, with average hourly earnings rising 0.2% month-on-month, below the expected 0.3%, and year-on-year growth at 3.6%, also lower than the market expectation of 3.8%.

Nick Timiraos, known as the "Fed's Mouthpiece," commented that the six-month average hiring rate climbed to 55,000 jobs, the highest level since May 2025. This report provides space for the Federal Reserve to keep interest rates unchanged in the foreseeable future. Meanwhile, the market is closely watching: the war with Iran has pushed up inflation and driven consumer confidence indicators to historic lows. If this shock eventually transmits to the labor market, the policy path will face more complex trade-offs.

## Three Major Industries Lead Growth; Courier Services Post Highest Monthly Gain Since Pandemic

**April job growth was concentrated in three industry sectors.**

Healthcare added 37,000 jobs, basically in line with the average monthly increase of 32,000 over the past 12 months. Nursing and residential care facilities added 15,000 people, and home health services increased by 11,000.

The transportation and warehousing sector added 30,000 jobs, mainly driven by the courier and messenger industry, which saw a single-month increase of 38,000, the highest monthly gain since the COVID-19 pandemic. However, overall employment in this sector remains 105,000 lower than its peak in February 2025.

Retail trade added 22,000 jobs, with warehouse clubs, supercenters, and general merchandise retailers adding 18,000 people, and building material and garden equipment retailers adding 13,000. However, department stores lost 7,000 jobs, and electronics and appliance retailers lost 2,000, partially offsetting the gains.

Employment in construction and leisure and hospitality rebounded for the second consecutive month, after harsh winter weather had suppressed hiring activity at the beginning of the year. Economists list data center construction projects as one of the potential drivers supporting construction labor demand this year.

## Labor Force Participation Rate Falls to Lowest Level Since 2021; Internal Indicators Show Concerns

Despite the strong overall employment data, several indicators from the household survey showed divergence.

**The labor force participation rate fell from 61.9% in March to 61.8%, the lowest level since October 2021.** The broader unemployment rate, which includes involuntary part-time workers and those who have lost confidence in finding jobs, rose to 8.2%, the highest so far this year. The household survey's own employment measure declined for the fourth consecutive month.

Notably, although the overall unemployment rate remained unchanged at 4.3%, the unemployment rates for major ethnic groups all rose, diverging from the trend of the overall data.

## Wage Growth Slows; War with Iran Risk Constitutes Uncertainty for Outlook

The cooling of wage data has dual implications against the backdrop of persistent inflationary pressure. Average hourly earnings grew 0.2% month-on-month and 3.6% year-on-year, both below expectations; average weekly hours worked increased, supporting residents' real income to some extent.

Other labor market data this week generally pointed to stabilization: the number of continuing claims for unemployment benefits remained low, announced layoffs so far this year were lower than the same period in 2025; ADP Research Institute data showed that April was the strongest month for job growth in over a year; and the number of job openings released by the BLS for March changed little.

However, uncertainties remain in the outlook. The war with Iran has pushed up inflation and driven the consumer confidence index to historic lows. Once consumer spending declines or business input costs continue to rise, employers may reduce working hours or even cut jobs. This risk will be a core observation point for employment data in the coming months.

## Tech and Information Industries Continue Layoffs; Federal Government Employment Shrinks Consecutively

Employment situations in some industries continue to deteriorate. The information industry lost 13,000 jobs in April, declining for the 16th consecutive month, with a cumulative reduction of 342,000 people, or 11%, from the peak in November 2022. The telecommunications industry lost 3,000 jobs, the motion picture and sound recording industry lost about 6,000, and the computer infrastructure and data processing industry lost about 4,000.

Large tech companies like Meta Platforms and Microsoft are continuing to reduce staff sizes, partly to offset high capital expenditures in the field of artificial intelligence.

Federal government employment decreased by another 9,000 in April, with a cumulative reduction of 348,000 people, or 11.5%, since the peak in October 2024, and recorded declines in 9 of the past 10 months.

## Fed Gains Room to Wait and See; No Pressure on Pace of Rate Cuts for Now

Continuing improvement in employment data has provided confidence for Federal Reserve officials to maintain interest rates unchanged. Last week, Federal Reserve Chair Powell stated that the labor market has shown "increasing signs of stability."

With inflationary pressures not yet eased, employment data stronger than expected has further reduced the urgency for the Federal Reserve to pivot to rate cuts. Officials' current policy focus has shifted to assessing the new inflation risks brought by the war with Iran, and the resilience of the labor market means they can remain patient for a longer period.

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