In April, US job growth showed resilience with a nonfarm payroll increase of 177,000, maintaining the unemployment rate at 4.2%. Despite concerns about President Trumpâs trade policies possibly affecting hiring, businesses haven't yet significantly changed their hiring strategies. Economists expect the true impact of tariffs to be felt in the coming months. While initial reactions showed positive trends in the stock market and investor expectations on interest rates, analysts urge caution regarding future economic advancements and the Federal Reserve's stance on rate cuts amidst ongoing uncertainties.
Most economists anticipate the brunt of the impact from punishing levies will be seen in coming months.
The report suggests the labor market continues to cool gradually, a sign that businesses...didn't significantly alter their hiring plans.
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