Despite Trump's escalating trade war, April's job growth showed a modest slowdown with 177,000 jobs added, slightly lower than March's revised figure. The unemployment rate remained at 4.2%. However, increased tariffs have negatively impacted manufacturers, resulting in job losses and declining factory orders. Consumer confidence is also down, raising concerns about a potential economic downturn. While average wages increased by 3.8%, the overall economic outlook remains uncertain.

Prepared by Christopher Adams and reviewed by editorial team.