In April, 177,000 jobs were added to the economy, keeping the unemployment rate steady at 4.2%. This encouraging data contradicts fears that tariffs would hurt job creation during a critical housing market period. However, while employment growth is promising, housing transactions lag due to economic uncertainties and affordability challenges. Consumer confidence dipped following tariff announcements, yet job growth could counteract concerns over budget impacts. Wage growth stabilized at 3.8%, above pre-pandemic levels, indicating resilience in the labor market despite external economic pressures.
Although job market concerns have risen among consumers, as expectations for the future dim, the data have not yet signaled a concerning shift, says Realtor.com Chief Economist Danielle Hale.
The April gain was more than economists expected and the second-highest monthly increase so far this year.
Recent consumer confidence data showed a sharp plunge in sentiment about the economy following President Donald Trump's April 2 tariff announcement.
Wage growth, which weakened in March, held steady at 3.8% in April, above pre-COVID-19 pandemic highs of 3.6%.
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