Marketplace What to expect in the April jobs report
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May 6, 2026 
Elizabeth Troval, Marketplace reporter covering Corpus Christi’s water crisis at the intersection of a local energy boom. Catherine Wolfram, MIT energy economics professor explaining oil markets and demand dynamics. Mitchell Hartman, labor reporter analyzing the April jobs outlook. They discuss private payroll gains, concerns about job mix and wages, oil-market volatility and how water and energy collide in Corpus Christi.
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Private Payroll Gains Are Real But Uneven
- ADP reported 109,000 private-sector jobs added in April, nearly double March and raising expectations for a stronger BLS jobs report on Friday.
- Mitchell Hartman highlights mixed signals: job gains concentrated in health care and slowing wage growth blunt real purchasing power amid rising inflation from the Iran war.
Job Growth Skewed Toward Health Care Weakens Recovery
- Economists caution that new hiring is skewed toward health care, driven by aging baby boomers, which may make the recovery fragile.
- Dean Baker notes wage growth fell from ~4% in 2024–25 to about 3.5% in March 2026, leaving real wages near zero as inflation rises.
Demand Destruction Is Balancing Tight Oil Markets
- Supply disruptions from the Strait of Hormuz closure are being partly offset by demand destruction and tapped inventories, which helps balance oil markets for now.
- Catherine Wolfram warns inventories can't be drawn down forever; prolonged shocks force a new normal of higher prices or new supply.