Employers added a surprising 177K jobs unemployment stays at 4.2%

WASHINGTON » American employers added a surprising 177,000 jobs in April as the job market showed resilience in the face of President Donald Trump’s trade wars.

Hiring fell slightly from a revised 185,000 in March, but that is above economist projections of 135,000 jobs.

The unemployment rate remained at a low 4.2%, the Labor Department reported Friday. Trump’s aggressive and unpredictable policies — including massive import taxes — have clouded the outlook for the economy and the job market and raised fears that the American economy is headed toward recession. Friday’s report showed employment, one of the strongest aspects of the U.S. economy, remains solid, yet many economists anticipate that a negative impact from trade wars will materialize this year for American workers and potentially, President Trump.

“Politicians can count their lucky stars that companies are holding on to their workers despite the storm clouds forming that could slow the economy further in the second half of the year,” said Christopher Rupkey, chief economist at fwdbonds, a financial markets research firm.

Profits at American oil giant Exxon Mobil falls short of forecasts

SPRING, TEXAS » Exxon Mobil Corp. (XOM) on Friday reported first-quarter net income of $7.71 billion. The Spring, Texas-based company said it had profit of $1.76 per share. The results beat Wall Street expectations, but Exxon does not adjust its reported results based on onetime events such as asset sales. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share. The oil and natural gas company posted revenue of $83.13 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $84.15 billion.

Microsoft hikes Xbox prices worldwide as gaming industry faces tariff uncertainty

NEW YORK » Amid a backdrop of ongoing tariff uncertainty, more and more gamers are facing price hikes. Microsoft raised recommended retailer pricing for its Xbox consoles and controllers around the world this week. Its Xbox Series S, for example, now starts at $379.99 in the U.S. — up $80 from the $299.99 price tag that debuted in 2020. And its more powerful Xbox Series X will be $599.99 going forward, a $100 jump from its previous $499.99 listing.

“We understand that these changes are challenging,” Microsoft wrote in a Xbox support update and subsequent statement sent to The Associated Press. The tech giant didn’t point to tariffs specifically, but cited wider “market conditions and the rising cost of development.”

Beyond the U.S., Microsoft also laid out Xbox price adjustments for Europe, the U.K. and Australia. The company said all other countries would also receive updates locally. Some Xbox accessories, including wireless controllers, are impacted too — as well as headsets in the U.S. and Canada. And further down the road, Microsoft said it also expects to make some of its new, firstparty games more expensive this holiday season — with a price tag of $79.99.

— Compiled via The Associated Press