U.S. Job Growth Hits 115,000 in April, Nearly Doubling Estimates

CoinDesk reports that the U.S. labor market showed continued resilience in April, based on figures released Friday by the Bureau of Labor Statistics. Employers added 115,000 jobs during the month, well above economists' forecast of 62,000, though down from March's revised 185,000 (originally reported as 178,000). The unemployment rate held steady at 4.3%, matching expectations. Markets moved modestly after the release. Bitcoin (BTC) traded around $80,200 within minutes and was little changed over the prior 24 hours. U.S. stock index futures extended early gains, with Nasdaq 100 futures up 0.9%. The 10-year U.S. Treasury yield slipped 2 basis points to 4.37%. The data arrive at a sensitive time for both investors and policymakers. The Federal Reserve last week left its target range for the federal funds rate unchanged, as officials continue to balance slowing growth against inflation that remains in the 3.50%–3.75% range. The report also comes ahead of a leadership transition at the Fed, with Kevin Warsh expected to be confirmed by the Senate later this month to succeed Jerome Powell. Energy markets remain another source of uncertainty. Oil prices have retreated from recent highs but are still elevated, and tensions linked to the Strait of Hormuz continue to keep traders on edge. Higher crude prices risk lifting headline inflation while squeezing consumer spending and broader economic activity.