Strong Job Growth in April

The US added 115,000 jobs in April, beating expectations, while the unemployment rate remained steady at 4.3%. Persistent inflation and high energy prices are expected to keep the Federal Reserve from cutting rates through 2026.

Key Takeaways

• 1.The US economy added 115,000 jobs in April, significantly exceeding market expectations of 65,000.
• 2.The unemployment rate remained stable at 4.3%, holding within the 4.3%-4.5% range observed since mid-2025.
• 3.PNC forecasts no change to the federal funds rate (currently 3.50% to 3.75%) for the remainder of the year due to persistent inflation concerns.

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