Key Points:
- The number of available jobs since May 2021 continues to outnumber Americans looking for work.
- Job openings fell from 8.4 million in March to 8.1 million in April, below consensus of 8.3 million and the lowest level in three years.
- There are 1.8 million fewer job openings than April 2023.
- In April, job openings decreased in health care and social assistance (-204,000) and in state and local government education (-59,000) but increased in private educational services (+50,000).
- The U.S. added just 175,000 jobs in April and there were 6.5 million people unemployed.
- The number of job openings for March was revised down by 133,000 to 8.4 million, the number of hires was revised up by 117,000 to 5.6 million, and the number of total separations was revised up by 130,000 to 5.3 million. Within separations, the number of quits was revised up by 80,000 to 3.4 million and the number of layoffs and discharges was revised up by 75,000 to 1.6 million.
- In April, the number of hires was little changed at 5.6 million. The rate held at 3.6 percent. Hires increased in durable goods manufacturing (+52,000), but decreased in arts, entertainment, and recreation (-45,000) and in federal government (-8,000).
- The number of total separations in April changed little at 5.4 million, and the rate was unchanged at 3.4%.
- Over the month, the number of total separations increased in durable goods manufacturing (+49,000).
- Within separations, quits (3.5 million) and layoffs and discharges (1.5 million) changed little.
- In April, the number of quits was little changed at 3.5 million, and the rate was 2.2% for the sixth month in a row.
- In April, the number of layoffs and discharges changed little at 1.5 million, and the rate held at 1.0%. The number of layoffs and discharges decreased in arts, entertainment, and recreation (-37,000).
- The labor force participation rate was unchanged at 62.7% and is 0.7% below its February 2020 level.
- The Right Facts will continue to monitor unemployment and job openings.