U.S. job growth outpaces expectations as unemployment holds steady

U.S. employers added 115,000 new workers to their payrolls in April as the national unemployment rate held steady at 4.3%, according to a Friday report from the Labor Department. April’s jobs count swept past the 55,000 new positions most economists were expecting as the U.S. labor market showed signs of resilience amid turbulent economic conditions.

The healthcare sector continued its run as one of the leading U.S. jobs creators over the past year, adding 37,000 new positions last month. New jobs in transportation/warehousing numbered 30,000 in April; retailers grew employee roles by 22,000; and social assistance workers greeted 17,000 new colleagues last month.

Federal government jobs continued to decline in April, losing 9,000 positions. Since reaching a peak in 2024, the federal jobs count has decreased by 348,000 or about 11.5% overall, according to the Bureau of Labor Statistics report.

IT/information saw the biggest jobs drop in April as the sector shed 13,000 positions last month. Since hitting a peak in November 2022, the sector has declined by 11%, some 342,000 jobs. A report from CNBC notes the job loss trend in this tech category coincides with the rise of artificial intelligence software.

The job gains come amid a U.S. economy that has been rocked by fallout from the Iran war.

Job growth amid economic turbulence

Consumers in Utah and across the country are facing fuel costs that have risen steadily since the U.S. and Israel launched attacks on Iran in late February and, according to the latest tracking by AAA, gas prices are the highest they’ve been in four years. On Friday, the average price for a gallon of regular across the country was $4.54. The last time pump prices hit this level was in 2022, the same year that hit an all-time high of $5.01. Federal economic reports released last week found that increased gas and diesel costs are beginning to impact prices on a broad array of goods and U.S. inflation just hit its highest level in nearly three years.

“Businesses to some extent are viewing the conflict in Iran as temporary,’' Gus Faucher, chief economist at the financial firm PNC, told the Associated Press. ”We’re seeing strong business investment, particularly around tech and AI. The economy continues to expand. We’ve weathered some shocks. The worst of the tariff impact is likely over.’'

While the U.S. business sector may be feeling optimistic about the Middle East war ending soon, recent polling by the Deseret News/Hinckley Institute of Politics found high levels of concern among statewide and national poll groups.

How are people feeling about their household finances?

The survey, conducted April 15-19, revealed a striking level of worry among respondents in both the statewide and national samples, with 80% of Utah participants and 79% of national respondents reporting that they’re at least somewhat concerned about the Iran War’s impacts on the U.S. economy with 51% and 50%, respectively, saying they are very concerned. Just 18% of Utah poll participants and 15% of national respondents said they were not too concerned or not at all concerned about the impacts.

Overall concern about how the war in Iran is affecting household budgets was similarly widespread with 87% of Utah respondents and 79% of national participants saying the cost of daily goods has increased somewhat or a great deal while 3% and 7%, respectively, report they are paying prices that are somewhat or a great deal lower since the war began.