CNN’s Egan: 177K Jobs Added in April, ‘We Were Bracing for a Slowdown in the Jobs Market, We Did Not Get That’

JIMENEZ All right breaking ░░░░░░░░ ago the April jobs ░░░░░░░░ just released showing steady ░░░░░░░░ amid some economic uncertainty ░░░░░░░░ want to bring in ░░░░░░░░ s Matt Egan who ░░░░░░░░ me now with more ░░░░░░░░ right what are we ░░░░░░░░ in the numbers What ░░░░░░░░ the context here EGAN ░░░░░░░░ Omar we were bracing ░░░░░░░░ a slowdown in the ░░░░░░░░ market We did not ░░░░░░░░ that We got steady ░░░░░░░░ This jobs market is ░░░░░░░░ relentless Let me run ░░░░░░░░ through the key numbers ░░░░░░░░ Yeah let s do ░░░░░░░░ EGAN 177 000 jobs ░░░░░░░░ added in the month ░░░░░░░░ April That easily beat ░░░░░░░░ for 135 000 So ░░░░░░░░ even close there The ░░░░░░░░ rate stayed low It ░░░░░░░░ at 4 2 When ░░░░░░░░ look at where the ░░░░░░░░ are right now we ░░░░░░░░ seeing solid gains in ░░░░░░░░ number of places Accommodation ░░░░░░░░ food services restaurants hotels ░░░░░░░░ healthcare private education all ░░░░░░░░ them adding jobs One ░░░░░░░░ where we saw a ░░░░░░░░ of jobs again was ░░░░░░░░ federal government as the ░░░░░░░░ cuts to the workforce ░░░░░░░░ But still when we ░░░░░░░░ zoom out here this ░░░░░░░░ market has been solid ░░░░░░░░ I mean 177 000 ░░░░░░░░ when we look at ░░░░░░░░ trend look at this ░░░░░░░░ saw that March was ░░░░░░░░ significantly revised lower to ░░░░░░░░ 000 jobs added That ░░░░░░░░ down from the original ░░░░░░░░ So you can see ░░░░░░░░ there really isn t ░░░░░░░░ that much of a ░░░░░░░░ here and these are ░░░░░░░░ very solid numbers Now ░░░░░░░░ is a big contrast ░░░░░░░░ what s shown up ░░░░░░░░ the surveys right We ░░░░░░░░ seen so much gloom ░░░░░░░░ doom from consumers small ░░░░░░░░ owners CEOs There s ░░░░░░░░ of these concerns about ░░░░░░░░ economy about the trade ░░░░░░░░ One thing I would ░░░░░░░░ as we look at ░░░░░░░░ market reaction futures were ░░░░░░░░ ahead of this they ░░░░░░░░ up One thing I ░░░░░░░░ just stress is that ░░░░░░░░ does not mean that ░░░░░░░░ economy is out of ░░░░░░░░ woods right It does ░░░░░░░░ take off the risk ░░░░░░░░ a recession right because ░░░░░░░░ is the risk that ░░░░░░░░ s a demand shock ░░░░░░░░ s a hit to ░░░░░░░░ jobs market that just ░░░░░░░░ t visible yet in ░░░░░░░░ data right That is ░░░░░░░░ that we could be ░░░░░░░░ more in May and ░░░░░░░░ June I talked to ░░░░░░░░ economist Joe Brusuelas and ░░░░░░░░ told me look in ░░░░░░░░ ways this could be ░░░░░░░░ of like the last ░░░░░░░░ for the economy right ░░░░░░░░ of like on a ░░░░░░░░ a Saturday night this ░░░░░░░░ the last song enjoy ░░░░░░░░ while it lasts because ░░░░░░░░ are all of these ░░░░░░░░ ahead So I think ░░░░░░░░ big question is is ░░░░░░░░ the calm before the ░░░░░░░░ or is it the ░░░░░░░░ before the calm And ░░░░░░░░ think we re only ░░░░░░░░ to get that answer ░░░░░░░░ the next few weeks ░░░░░░░░ months and a lot ░░░░░░░░ that is going to ░░░░░░░░ decided by what happens ░░░░░░░░ tariffs JIMENEZ And the ░░░░░░░░ data point in the ░░░░░░░░ of economic picture and ░░░░░░░░ will likely be a ░░░░░░░░ ahead But that number ░░░░░░░░ in higher than expectations ░░░░░░░░ the bottom line at ░░░░░░░░ for now.”