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April 2025 Market Trends Report
Economists continue to anticipate the impact of tariff anxieties on monthly job reports, yet April saw another month of stable job growth.
Employers added 177,000 jobs, and unemployment retained its 4.2% rate, according to the Bureau of Labor Statistics’ (BLS) Employment Situation Summary.
More than half of all reported industries broadened payrolls, with gains mostly concentrated in healthcare (+59,000 jobs) and transportation and warehousing (+29,000 jobs).
Among the industries that lost jobs, government shed 9,000 payrolls (on top of the 17,000 lost earlier this year in DOGE layoffs), yet overall unemployment remains historically low.
Most Americans enjoy job security right now, and those who are looking for jobs in the industries we serve were finding them faster and with greater confidence in Q1 2025 (compared to Q4 of last year). However, in Q2, the ease of finding employment seems to be falling as the median duration of unemployment continues to rise.
Overall, the job market’s resiliency continues to surprise economists in the face of massive policy changes. Trade uncertainty and high interest rates are clouding the broader economic outlook, and some anticipate it will spill over to the labor market in months to come.
Bureau of Labor Statistics' Employment Situation Summary