Jobs market defies expectations amid fears tariffs could soon spur economic downturn - PBS NewsHour

[Rhiannon12866]

The U.S. labor market beat expectations last month, adding 177,000 jobs as the unemployment rate held steady at 4.2 percent. But the April jobs number was lower than the March tally and some economists are concerned that cracks in the economy are beginning to show as the effects of Trump’s tariffs become clearer. Amna Nawaz discussed more with Julia Coronado of MacroPolicy Perspectives. - Aired on 05/02/2025.

[progree]

1. Also, downward revisions of prior 2 months (58k jobs combined) make it a gain of just 119k

jobs compared to the total number reported a month ago (April 4).

REVISIONS of the prior 2 months: down 58,000, from the BLS news release:
https://www.bls.gov/news.release/empsit.nr0.htm

The change in total nonfarm payroll employment for February was revised down by 15,000, from +117,000 to +102,000, and the change for March was revised down by 43,000, from +228,000 to +185,000. With these revisions, employment in February and March combined is 58,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.

So compared to the report that came out one month ago we have 177,000 - 58,000 = 119,000 net new payroll jobs reported.

The April 4 report's total nonfarm payroll employment: 159,398k
. . . https://www.bls.gov/news.release/archives/empsit_04042025.htm -- Table B-1
This (May 2 report's) total nonfarm payroll employment: 159,517k -- a 119k increase
. . . https://www.bls.gov/news.release/archives/empsit_05022025.htm or https://www.bls.gov/news.release/empsit.t17.htm or https://data.bls.gov/timeseries/CES0000000001

the actual gain in jobs compared to the previous jobs report -- the April 4 jobs report for March -- was 119k jobs, below the expectation of a gain of 138k jobs.

Both the expected and actual were pretty weak.

But our labor secretary has just declared: 'The Golden Age is here':
https://www.democraticunderground.com/1116100418

[Rhiannon12866]

2. Thanks so much for the details and figures!

Sounds like we're in for a rough summer as things continue to get worse.

[progree]

3. Thanks for the OP and the thanks and the rec - I'm deeply in debt 😊

[OldBaldy1701E]

4. And, for those of us who cannot work and are not getting any help?

Yeah, thought so.

Looks like a slow wasting death for me and those like me. Assuming my heart, or my back, or my diabetes would react badly to the lack of nutrition and healthcare doesn't go ahead and end things quickly, I may not have to suffer too long.