NEWSFEED HIGHLIGHTS

8 May 2026

A second consecutive firm jobs report is a big win for the US economy, amidst trying circumstances. Nonetheless, other labour market data is not as firm and consumers certainly aren't recognising the strength of this data point. Real household disposable incomes are the key driver of spending and that continues to flatline

115,000 Job gains in April
 
Jobs beat expectations for a second month
The US jobs report has come in notably stronger than expected for a second consecutive month. Payrolls rose 115k in April versus the 65k expectation, while last month's initial print of 178k is now 185k. This is the first back-to-back monthly jobs increase since May of last year. Other key metrics are that the unemployment rate held steady at 4.3% with the details contradicting the payrolls' data, in that the household survey suggests employment fell 226k while the number of people declaring themselves unemployed rose 134k. Meanwhile, average hourly earnings rose 0.2%MoM/3.6%YoY, which was below the 0.3%/3.8% consensus prediction. 

The details show private education and healthcare services added 46k jobs, while transportation and warehousing added 30k, and retail contributed 22k, with leisure and hospitality employment increasing 14k. Manufacturing lost 2k though, with information dropping 13k and financial activities losing 11k. Over the past twelve months, the US has added 238k jobs, or just under 20k per month on average, most of which have come in the past two months. Continue Reading

May 8, 2026

WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the Bureau of Labor Statistics released its latest jobs report, showing the labor market created 115,000 new jobs in April:

“This month, we once again are seeing clear evidence that Republican policies are benefitting the working-class Americans and small businesses that we sought to help. Job creation defied expectations once again and wages continue to rise for working families all across this country. As more Americans find work, Uncle Sam is taking less out of their paychecks thanks to the Working Families Tax Cuts. Under that tax relief, higher wages are stacked on top of record refunds that in total returned over $310 billion to American workers with an average refund of nearly $3,300. The rise in real wages under President Trump comes after a decline in wages caused by the failed experiment that was the Democrats’ $10 trillion spending spree on handouts to the wealthy and well-connected. In America’s manufacturing sector alone, the rise in workers’ wages have already recouped the losses they endured under President Biden.

“Republican tax reform is also boosting the prospects for small businesses by making the 20 percent small business deduction permanent, with tax relief projected to deliver a million new jobs annually, while policies like 100 percent immediate expensing and the permanent deduction on interest expenses will free up capital to invest in growth and more hiring. Thanks to the Working Families Tax Cuts, Main Street workers and small business owners are able to celebrate this year’s National Small Business Week with lower taxes, greater certainty, and more opportunity to come.”