The April 2023 Jobs Report saw the unemployment rate change slightly to 3.4% in April from 3.5% in March. According to the most recent report released by the Bureau of Labor Statistics (BLS), payroll employment increased by 253,000, and the number of unemployed people changed a little to 5.7 million.
The labor force participation rate remained unchanged at 62.6% in April. Professional and business services, health care, leisure and hospitality, and social assistance saw notable job gains in April.
The unemployment rate for college-degreed professionals 25 years and older edged down slightly to 1.9% in April from 2.0% in March. Job seekers with some college or an associate degree saw a further decrease in unemployment from 3.0% in March to 2.9% in April.
Jobs added by industry:
- Professional and Business Services: 43,000 jobs added
- Health Care: 40,000 jobs added
- Leisure and Hospitality: 31,000 jobs added
- Social Assistance: 25,000 jobs added
- Financial Activities: 23,000 jobs added
- Government: 23,000 jobs added
Wage growth rose by 16 cents in March 2023
According to the report, average hourly earnings for all employees on private nonfarm payrolls rose by 16 cents or 0.5% to $33.36. Over the past 12 months, average hourly earnings have increased by 4.4%.
See how company culture can often be the deciding factor for prospective talent.
With the labor market still relatively tight, many employers are looking at what makes the difference in hiring. A company’s culture can be a deciding factor as candidates weigh their options. Secondly, as companies dig under the covers looking at employee burnout, examining company culture makes good sense for retention. Our latest ebook, Solving the Company Culture Puzzle for a Better Workplace, takes a closer look at all aspects of company culture and how a positive company culture can help keep employees happy and loyal. Click here to download your free copy.
A trusted resource to help you work through your workforce needs.
Whether it’s administrative, legal, technology or finance and accounting staff our recruiters can offer you insights and information on the trends that will impact hiring and how you can become an employer of choice. Contact one of our locations today.
Visit our website to learn more about Roth Staffing Companies, including Ultimate Staffing, Ledgent Finance & Accounting, Ledgent Technology, Adams & Martin Group and About Talent for your administrative, office support, accounting and finance, legal, and technology staffing and recruitment needs.
Sources: BLS, CNBC
