In April, a total of 177,000 payroll jobs were added to the economy, with average weekly earnings of $1237. Income growth is outpacing consumer price inflation. Regardless of what may be happening on Wall Street, where half of the stock market valuations are held by the top 1% of the population, Main Street America continues to move forward. Homeowners across the country are also faring well as housing equity continues to reach new record highs. 

The manufacturing sector, however, stalled in the latest month with no net job additions. The retail sector reduced staffing levels. The federal government continues to be affected by DOGE, with a further 9,000 job reductions. As in recent months, overall government employment rose as local governments added 13,000 jobs in the education sector. Jobs were also created in construction, professional business services, and health care sectors. Moreover, the overall job gains indicate increased occupancy demand for apartment and commercial buildings. Therefore, nearly 10,000 jobs were added to the real estate sector, primarily related to rental and leasing activity. The economy is progressing despite all the trade and tariff disruptions.