
According to Open Association of Research Society, April’s job report showed unexpected strength: U.S. employers added 177,000 jobs and the employment rate held at 4.2%. But not every sector benefited.
Accounting, tax prep, bookkeeping and payroll services saw a net loss of 9,000 jobs, with 900 jobs cut in the accounting sector.
This comes as the federal government continues trimming its workforce, down 26,000 since January. The IRS alone has seen widespread cuts, including a 25% reduction in staff and buyouts accepted by over 300 employees in its Independent Office Appeals. Layoffs have hit divisions focused on taxpayer experience and equity initiatives, signaling a shift in how the agency allocates its limited resources.
Outside of accounting and government, job growth continued in healthcare, transportation, warehousing, financial activities and social assistance. Wages rose slightly, up 0.2% to $36.06 an hour, and earnings up 3.8% year-over-year.
Still, there’s uncertainty ahead. The economy contracted last quarter and recent tariffs sparked volatility. As economist Sam Kuhn put it, this might be the last solid jobs report for a while. Businesses are holding back price hikes, unsure of how long consumer patience, or demand, will last.