April Job Growth Slows Amid Tariff Concerns

According to BlockBeats, ADP reported on Wednesday that companies significantly slowed hiring in April due to potential impacts from U.S. President Donald Trump's tariffs on trade partners. The private sector added only 62,000 jobs, marking the smallest increase since July 2024, as uncertainty over tariff implementation and its effects on hiring plans and economic conditions intensified. Wage growth also saw a decline, with salaries for those who stayed in their jobs rising by 4.5% year-over-year, down 0.1 percentage points from March. However, wages for job changers increased to 6.9%, up 0.2 percentage points. Among industries, leisure and hospitality experienced the largest growth, adding 27,000 jobs. Other sectors with job increases included trade, transportation, and utilities (21,000), financial activities (20,000), and construction (16,000). Conversely, education and health services lost 23,000 positions, while information services saw a reduction of 8,000 jobs.