April Jobs Report: U.S. Adds 175,000 Jobs

In April 2024, the United States labor market saw a continued increase in employment, with 175,000 new jobs added, slightly below the average monthly gain over the past year.

The unemployment rate remained stable at 3.9%, illustrating the enduring resilience and dynamism of the labor market.

Is the U.S. Job Market Expanding?

Although the April job addition of 175,000 represents a decrease from the robust gains earlier in the year, it reflects an ongoing positive trend in the labor market’s strength.

This performance has helped maintain the unemployment rate within the narrow range of 3.7% to 3.9% observed since August 2023.

U.S. Unemployment Rates by Group

• Adult women: 3.5%
• Adult men: 3.6%
• Teenagers: 11.7%
• Whites: 3.5%
• Blacks: 5.6% (a decrease)
• Asians: 2.8%
• Hispanics: 4.8%

Key Employment Statistics for April 2024

• The long-term unemployed accounted for 19.6% of the total unemployed population, showing little change from previous months.
• Labor force participation held steady at 62.7%, with the employment-population ratio marginally adjusted to 60.2%.
• Part-time employment for economic reasons involved about 4.5 million individuals, consistent with previous months.
• Approximately 5.6 million people were not in the labor force but wanted a job, maintaining consistency with previous trends.
• The marginally attached workforce, including discouraged workers who believe no jobs are available for them, remained steady at 1.6 million and 362,000, respectively.

Sectors with Notable Job Growth in April

Healthcare

This sector added 56,000 jobs, continuing to show growth particularly in ambulatory health care services, hospitals, and nursing and residential care facilities.

The uptick underscores the enduring demand and expansion within the health care industry.

Social Assistance

Employment in this sector increased by 31,000, with significant gains in individual and family services.

This uptick reflects the growing demand for personnel dedicated to enhancing the welfare and support systems for communities.

Transportation and Warehousing

This sector experienced an influx of 22,000 jobs, with notable gains in the couriers and messengers category as well as warehousing and storage.

This growth reflects the increasing demand for delivery services and the expansion of e-commerce.

Other Noteworthy Job Trends in April

• Retail trade employment increased by 20,000, with gains across several sub-sectors including general merchandise and building material retailers.
• Construction employment saw a modest increase of 9,000, following a more significant rise the previous month.
• Government employment saw minimal changes, with an increase of 8,000 jobs, primarily in local government.

April Wage and Hour Trends

• Average hourly earnings for all employees on private nonfarm payrolls increased by 7 cents to $34.75, marking a 3.9% increase over the past year.
• The average workweek for all employees decreased slightly by 0.1 hour to 34.3 hours.

This report includes revised employment numbers for February and March, showing a net decrease in job additions for those months combined.

The ongoing stability in employment growth and wage increases suggests that the labor market continues to support economic expansion, albeit at a potentially moderating pace.