U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and anticipate strong customer demand.
Hiring accelerated and pay rose at a solid pace in April, setting the stage for healthy U.S. economic growth to endure despite fears of a slowdown earlier this year.
Trump administration officials insisted that the job market's gains were a result of the president's tax cuts and deregulatory policies. Jason Guggisberg, vice president of Adecco USA, a staffing firm that finds temporary and permanent hires for business clients, said companies are doing much more to attract workers. They are offering more perks — like free lunches or weekly happy hours — and allowing more flexible work schedules.
Yet the outlook soon brightened. Chair Jerome Powell signaled that the Fed would put rate hikes on hold. Trade negotiations between the U.S. and China made some progress. The economic outlook in some other major economies improved. Share prices rebounded.
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