US job market remains tight despite headwinds

428,000 new US jobs were posted for the month of April, slightly ahead of forecasts, underscoring a robust US job market despite mounting economic headwinds. This is on par with job creation the previous month so the data does little to add clarity to growing uncertainty over recessionary risk amidst central bank interest rate hikes and a persistently inflationary environment. Unemployment also stayed level at 3.6% in April, keeping concerns about a material shift in the labor market at bay for now. Markets continue to see increased volatility following central bank rate hikes, with global equities seeing losses again on Friday, whilst the US dollar holds onto recent strength.