U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%

The U.S. economy added fewer jobs than expected in April, reversing a trend of strong job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates.

Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus. The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%.