Employers Add 263,000 Jobs in April, More Than Expected

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Employers Add 263,000 Jobs in April, More Than Expected
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The U.S. economy added 263,000 jobs in April, while the unemployment rate fell to 3.6%

Investors are retreating from bets the Federal Reserve will cut interest rates this year, potentially adding to the drama around Friday’s jobs reportby Fed Chairman Jerome Powell highlights what many say is risk assets’ dependence on easy monetary policy. Signs of further strength in the economy are likely to diminish hopes that policy will stay easy for a prolonged time.

The drop came after Mr. Powell said late Wednesday that the Fed doesn’t see a strong case for changing interest rates and believes a patch of soft inflation data will passwho had expected a more cautious stance, spurring a climb in Treasury yields and the dollar that continued Thursday.dropped again The market reaction is the latest example of comments from Mr. Powell and the Fed wrongfooting investors this year, analysts said.

The shift in rate expectations raises the stakes for today’s hiring data, analysts said. Economists surveyed by The Wall Street Journalthe government to report that employers added a seasonally adjusted 190,000 jobs in April, while the unemployment rate held at 3.8%.

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