U.S. payrolls increased 115,000 in April, more than expected; unemployment at 4.3%

Summary

Rick Santelli reports the April jobs report with key data points. Nonfarm payrolls came in at 115,000 versus an expected 65,000, with upward revisions. Unemployment held at 4.3% while underemployment rose to 8.2%. The 10-year yield remained unchanged at 4.37%.

• April nonfarm payrolls increased 115,000, beating the 65,000 estimate.
• Prior month was revised upward from 178,000 to 185,000.
• Manufacturing payrolls declined by 2,000 after a strong prior month.
• Average hourly earnings rose 0.2% month-over-month, below the 0.3% estimate.
• Year-over-year earnings growth came in at 3.6%, up from the previous 3.5%.
• Hours worked increased to 34.3, the highest since March 2024.
• Unemployment rate remained at 4.3%, within the year's range.
• Underemployment rate (U-6) rose to 8.2%, the highest since September 2024.