Nonfarm payrolls estimated to increase 243,000 in April
Unemployment rate seen unchanged at 3.8
Hourly earnings forecast rising 0.3; up 4.0 yearonyear

WASHINGTON, May 3 Reuters U.S. job growth probably slowed to a stillsolid clip in April, with wages maintaining their steady rise, which would allay fears that the economy was stalling after activity pulled back considerably in the first quarter.

The Labor Department39;s closely watched employment report on Friday is also expected to show the unemployment rate holding below 4 for the 27th straight month. Labor market endurance, however, leaves the Federal Reserve in no rush to start cutting interest rates, which could significantly slow down the economy.

The U.S. central bank on Wednesday left its benchmark overnight interest rate unchanged in the current 5.255.50 range, where it has been since July.

The bloom is off the rose of a strong employment market, but it39;s still pretty, said Sung Won Sohn, finance and economics professor at Loyola Marymount University. A slow, but healthy job market will continue well into 2025. The only situation where I see a dramatic decline will be if the Fed keeps rates high for too long.

Nonfarm payrolls likely increased by 243,000 jobs last month after rising 303,000 in March, according to a Reuters survey of economists. Job gains would be slightly below the 276,000 monthly average in the first quarter.

Estimates ranged from 150,000 to 280,000. The labor market has so far defied…