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The American employment landscape is constantly changing. Keep up-to-date with the most recent trends with our monthly Employment Landscape Overview. Figures and statistics sourced from the Bureau of Labor Statistics and the American Staffing Association.
The unemployment rate was unchanged at 4.2 percent in April and has remained in a narrow range of 4.0 percent to 4.2 percent since May 2024. The number of unemployed people, at 7.2 million, changed little in April.
In April, the number of long-term unemployed (those jobless for 27 weeks or more) increased by179,000 to 1.7 million. The long-term unemployed accounted for 23.5 percent of all unemployed people.
Both the labor force participation rate, at 62.6 percent, and the employment-population ratio, at 60.0 percent, changed little in April. These measures have shown little change over the year.
In April, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents, or 0.2 percent, to $36.06. Over the past 12 months, average hourly earnings have increased by 3.8 percent. In April, average hourly earnings of private-sector production and nonsupervisory employees rose by 10 cents, or 0.3 percent, to $31.06.
The number of people employed part time for economic reasons, at 4.7 million, changed little in April. These individuals would have preferred full-time employment but were working part-time because their hours had been reduced or they were unable to find full-time jobs.
In April, the number of people not in the labor force who currently want a job was little changed at 5.7 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.
Temporary help employment was 1.59% of total nonfarm employment in March.
Temporary help jobs in April remained 4.6%, seasonally adjusted, from last month.
Total nonfarm payroll employment increased by 177,000 in April, roughly in line with the average monthly gain of 152,000 over the prior 12 months.
Notable job gains occurred in
Health Care (+51K)
Transportation (+14K)
Warehousing (+10k)
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Acara summarizes the latest industry trends each month to keep you informed as you make decisions about the future of your business.
Recent data from the New York Federal Reserve indicates a concerning shift in the labor market for young, educated workers. While the overall job market appears stable, college graduates are experiencing unusually high unemployment rates and deteriorating conditions. This report examines the current trends, potential causes, and implications for the broader economy.
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These trends represent a significant shift in the labor landscape for young professionals. While college education still provides value, its relative advantage in the job market appears to be changing. Whether these trends reflect short-term economic conditions, medium-term changes to education value, or long-term AI disruption remains uncertain, but they merit close monitoring by policymakers, educators, and business leaders.