The U.S. labor market continued to show at least modest strength in April, according to data released Friday by the Bureau of Labor Statistics.
The economy added 115,000 jobs during the month, well above economists’ expectations of 62,000, but down from 185,000 in March (revised from an initially reported 178,000).
The unemployment rate remained at 4.3%, in line with forecasts.
Bitcoin traded at $80,200 in the minutes after the release, roughly flat over the past 24 hours. U.S. stock index futures added to earlier gains, with the Nasdaq 100 up 0.9%. The 10-year Treasury yield fell 2 basis points to 4.37%.
The report arrives at a sensitive time for markets and policymakers. Last week, the Federal Reserve left its benchmark fed funds rate range unchanged at 3.50%-3.75%, extending its holding pattern as officials weigh slowing economic growth against persistent inflationary pressures.
The data also comes ahead of a new chairman taking the reins at the Fed, with Kevin Warsh expected to be confirmed by the Senate soon to replace Jerome Powell later this month.
Although not high, oil prices have remained high and uncertainty surrounding the Strait of Hormuz is keeping energy markets on edge. Higher crude oil prices risk contributing to overall inflation, while at the same time weighing on consumer consumption and economic activity.
