"America's employers a delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war. Hiring was better than the 65,000 forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%."
"The Iran war has caused the biggest disruption of global oil supplies in history and sent average U.S. gasoline prices surging past $4.50 a gallon this week. But the conflict hasn't done much damage to the American job market - at least not yet."
"Ordinarily, 65,000 net new jobs a month would be unimpressive. But these are not ordinary times. Baby Boomer retirements and President Donald Trump's immigration crackdown mean that fewer people are competing for work and that the economy doesn't need to generate as many jobs as it used to."
"Matthew Martin of Oxford Economics says the so-called break-even point - the number of new jobs required each month to keep the unemployment rate from rising - is now near zero. The jobless rate is expected, in fact, to have remained at a low 4.3% in April, according to FactSet."
Employers added 115,000 new jobs last month despite an economic shock from the Iran war. Hiring exceeded expectations of 65,000 net new jobs, though it slowed from 185,000 jobs created in March. The unemployment rate remained at 4.3%. The Iran war disrupted global oil supplies through the Strait of Hormuz, sending average U.S. gasoline prices above $4.50 a gallon. Despite the energy price surge, the job market showed limited damage so far. Baby Boomer retirements and immigration restrictions reduced the number of people competing for work, lowering the monthly job growth needed to prevent unemployment from rising.
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