U.S. Adds 39K More Jobs in April as Trump Urges Fed to Cut Rates

U.S. nonfarm payrolls exceeded expectations , adding 39,000 more jobs than forecast, signaling continued labor market stability . April’s unemployment rate hit 4.2%, above forecasts , while wage growth remained subdued , rising only 0.2% month-over-month . Trump pressures the Federal Reserve for rate cuts , despite Powell signaling no reduction due to inflation risks and foreign trade policies . Today’s economic data shows a slight relief in inflationary fears, as nonfarm payrolls show a significant increase in the number of people employed in April. This month, the U.S. created 39,000 more jobs than expected, signaling that despite outside pressures, the labor market is still relatively stable. According to today’s print, April’s unemployment rate was 4.2%, which is above the expected forecast. This is another signal that American jobs are stable. Average hourly earnings, however, came in worse than expected, missing the 0.3% forecast by one basis point, meaning that wage growth remains subdued, with average hourly earnings rising only 0.2% month-over-month. Trump Pressures Fed For Rate Cuts Less than a week before the next Federal Open Market Committee (FOMC) on May 6–7, everyone will turn their attention to the Federal Reserve as the board decides on the next interest rate decision for the U.S. economy. Chairman Jerome Powell has already hinted that a rate cut in May is unlikely , citing potential inflationary concerns due to America’s new foreign trade policy. Recent economic indicators reinforce Powell’s stance. Inflation remains above the Fed’s 2% target, and the latest GDP report showed a slight contraction, largely attributed to businesses adjusting to new tariffs. That hasn’t stopped the U.S. President from pressuring Jerome Powell for a new rate cut. In a recent post on truth.social, Trump emphasized that gasoline prices have dropped to $1.98 a gallon, groceries and mortgage rates are down, and employment remains strong. He claimed that the economy is in a transition phase and just getting started, insisting that there is no inflation and urging the Federal Reserve to lower interest rates immediately. Whether the Fed will decrease interest rates or not remains to be seen. However, forecasts suggest that the Federal Open Market Committee (FOMC) will likely hold rates steady at 4.25% to 4.5% in its upcoming May 7 meeting. Looking for a great trading opportunity? The first 100 users on WEEX can get a 100 USDT bonus , and by trading just 5M USDT, you can unlock up to 30,000 USDT in futures bonuses . Don’t miss out on this limited-time offer. Sign up now and start trading to claim your rewards.