The Labor Department reported that US employers added 115,000 jobs in April. Economists polled by Dow Jones had expected 55,000 jobs. The unemployment rate held steady at 4.3%, matching forecasts.
The data reduced fears that the was cooling too quickly. However, April’s job growth remained below March’s 185,000 gain, showing slower hiring even as the market stayed stable.
The stronger jobs report helped lift investor sentiment at the open. At 9:30 a.m. ET, the Dow Jones Industrial Average rose 209.88 points, or 0.42%, to 49,806.85. The S&P 500 gained 32.78 points, or 0.45%, to 7,369.89, while the NASDAQ Composite added 146.89 points, or 0.57%, to 25,953.09.