US jobs data beat expectations for a second month, with the economy adding 115,000 jobs in April, almost double forecasts, while unemployment held at 4.3%. The figures suggest businesses are still hiring despite the energy shock caused by the closure of the Strait of Hormuz, which has pushed up gasoline prices and squeezed consumers. However, the picture is not entirely strong: revisions show average job growth of only 48,000 over the past three months, roughly the level needed to absorb new workers, while wage growth was slow and fewer working-age people were seeking jobs. For the Federal Reserve, the report reduces pressure to cut rates soon, as a steady labour market could keep inflation risks alive. Markets welcomed the data, with the S&P 500 up 0.8%, while the Dow Jones Industrial Average closed flat.