The U.S. labor market continued to show at least modest strength in April, data from the Bureau of Labor Statistics showed on Friday.
The economy added 115,000 jobs this month, well above economists’ expectations for 62,000 but down from 185,000 in March (based on a revision from the original report of 178,000).
The unemployment rate remained at 4.3%, in line with expectations.
Bitcoin It was trading at $80,200 within minutes of publication, roughly unchanged over the past 24 hours. U.S. stock index futures extended early gains, with the Nasdaq 100 rising 0.9%. The 10-year Treasury yield fell 2 basis points to 4.37%.
The report comes at a delicate moment for markets and policymakers. The Fed last week kept its benchmark federal funds rate unchanged at a range of 3.50% to 3.75%, expanding its mode of keeping interest rates steady as officials weigh slowing economic growth against persistent inflationary pressures.
The data also comes ahead of the new Fed chairman taking office, with the Senate expected to soon confirm Kevin Warsh to succeed Jerome Powell.
Although oil prices are off their highs, they remain elevated, with uncertainty surrounding the Strait of Hormuz keeping energy markets on edge. Rising crude oil prices are likely to increase headline inflation while also weighing on consumer spending and economic activity.