Key Takeaways:

  • The number of job listings have increased from March 2023.
  • The unemployment rate has dropped.
  • There has been an increase in average hourly earnings. 

Once again, the labor market has everyone scratching their heads as the nonfarm payrolls in April 2023 increased. The Fed was hopeful that the market would continue to cool, in order to settle inflation across the United States.

According to the U.S. Labor Department’s job report for April 2023, employers added 253,000 jobs and the unemployment rate dropped to 3.4%. Average hourly earnings are also on the rise with a 0.04% increase. 

Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the May pre-job report.