April non-farm payrolls rose 115K, exceeding estimates, while unemployment ticked up to 6.9% and markets shrugged off geopolitical tensions.
US April non-farm payrolls increased by 115K, surpassing the 62K estimate, while the unemployment rate rose to 6.9% from 6.7% expected. The data underscores persistent labor market strength despite higher borrowing costs.
Expectations had centered on a softer print following March’s downwardly revised figures. Canada’s employment change fell by 17.7K, missing the 15.0K forecast. Market sentiment remained buoyant as the S&P 500 gained 0.8%, led by a 5% weekly rise in the Nasdaq, fueled by AI-driven tech optimism.
WTI crude settled at $94.76, down 7 cents, while gold rallied $30 to $4716. US 10-year yields dipped 3.2 bps to 4.36%, and GBP outperformed as USD weakened.