Bloomberg Intelligence US Employers Add 177,000 Jobs, Solid Pace in Face of Uncertainty
May 2, 2025
Brooke Sutherland, Bloomberg Boston Bureau Chief, dives into President Trump’s threats against Harvard’s tax-exempt status, sparking a discussion on its impacts on higher education and the broader manufacturing economy. Vincent Piazza, Senior Equity Research Analyst, analyzes the latest earnings from Chevron and Exxon, revealing how plummeting oil prices are reshaping strategies, including share buybacks. The conversation emphasizes the resilience of the U.S. job market, even in the face of political and economic uncertainty.
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Resilient Economy, SMB Job Drivers
- The U.S. economy shows resilience despite uncertainty from tariffs.
- Small and medium-sized businesses primarily drive current job growth.
Tariffs Impact Manufacturing More
- Tariffs and trade uncertainty hit manufacturing SMBs harder than service firms.
- Consulting and tech service SMBs find more opportunity due to workarounds and tech solutions.
Layoffs and Hiring Coexist
- Some SMBs and big firms lay off employees while still hiring new skill sets.
- Hiring freezes mainly affect new positions, but critical roles remain open.