April 2024 Jobs Report: 175,000 Jobs Added, Lower Than Forecast | J.P. Morgan (2024)


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April 2024 Jobs Report: 175,000 Jobs Added, Lower Than Forecast | J.P. Morgan (2024)

FAQs

April 2024 Jobs Report: 175,000 Jobs Added, Lower Than Forecast | J.P. Morgan? ›

Key takeaways. The Bureau of Labor Statistics (BLS) reported that the U.S. economy added 175,000 jobs in April 2024, the slowest jobs gain in six months and below market expectations. The unemployment rate ticked up from 3.8% to 3.9%.

How many jobs were added in April 2024? ›

The U.S. economy added 175,000 jobs in April 2024, making it the 39th consecutive month of U.S. job growth under President Biden.

What is the job market stats for 2024? ›

The Bureau of Labor Statistics (BLS) reported that the U.S. economy added 272,000 jobs in May 2024, a much better-than-expected report as it easily beat consensus expectations. However, there were modest downward revisions to job growth of 15,000 combined for the prior two months.

What is the economic news for April 2024? ›

The U.S. goods and services trade deficit increased from $68.6 billion in March (revised) to $74.6 billion in April, as imports increased more than exports. The goods deficit increased $5.9 billion to $99.2 billion, and the services surplus decreased $0.1 billion to $24.7 billion.

What is the unemployment rate in April 2024? ›

The national unemployment rate changed little at 3.9 percent but was 0.5 percentage point higher than in April 2023. Nonfarm payroll employment increased in 6 states and was essentially unchanged in 44 states and the District of Columbia in April 2024.

How many jobs were added to the US economy in April? ›

175,000 jobs were added in April, the slowest gain in six months. The report is welcome news for the Fed as it alleviates some inflationary pressures. March's nonfarm payroll gains were revised up to 315,000 and February's nonfarm payroll gains were downwardly revised to 236,000.

How many jobs will be added between 2014 and 2024? ›

Between 2014 and 2024, about 9.8 million new jobs are projected because of employment growth but 35.3 million openings are projected because of replacement needs.

What is the fastest growing job in 2024? ›

What are the Top 5 Fastest-Growing Careers 2024?
  • Software Developers. Software developers are at the forefront of professions with a high potential, with a predicted growth rate of 25% from 2022 to 2032. ...
  • Information Systems Managers. ...
  • Registered Nurses. ...
  • Medical and Health Services Managers. ...
  • Financial Managers.
Apr 15, 2024

What profession has the highest projected employment growth in 2024? ›

Best Jobs of 2024
  1. Mental health technician. ...
  2. Loan officer. ...
  3. Mental health therapist. ...
  4. Electrical engineer. ...
  5. Construction project manager. ...
  6. Mechanical engineer. ...
  7. Psychiatrist. ...
  8. Human resources manager.
Apr 18, 2024

Who is laying off in 2024? ›

Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024. Smaller-sized startups have also seen a fair amount of cuts, and in some cases, have shut down operations altogether.

What is the economic outlook for April 2024? ›

World Economic Outlook, April 2024: Steady but Slow: Resilience amid Divergence. The baseline forecast is for the world economy to continue growing at 3.2 percent during 2024 and 2025, at the same pace as in 2023.

What was April 2024 CPI? ›

In April 2024, Core CPI rose 3.6% YoY and headline CPI rose 3.4% YoY. Core Services rose 3.2%, Core Goods fell 0.3%, Food rose 0.3% and Energy rose 0.2%.

What is the market return in April 2024? ›

The equity market stumbled in April as the S&P 500 decreased by -4.1%, breaking the streak of five consecutive positive months. The 2024 year-to-date return is now +6.0%. The S&P also suffered its largest decline of the year when the index fell by -5.4% from the beginning of the month through April 19th.

What is the labor participation rate in April 2024? ›

June 2024
Percent
NameApr 2024Mar 2024
California61.662.2
Colorado67.767.8
Connecticut63.764.7
101 more rows

Where is job growth in the US? ›

“Employment growth is continuing at a solid pace, but there are ample signs that the heat in the labor market over the past few years largely has been removed,” said Sarah House, an economist at Wells Fargo. The number of open jobs, while still elevated, has fallen to a three-year low. Fewer workers are quitting jobs.

What is the significance of the jobs report? ›

The monthly jobs report from the U.S. Department of Labor provides a useful snapshot of how many jobs the economy created the previous month, how many people were unemployed, and what kind of wage hikes workers received. It also delivers an excellent snapshot of overall economic health.

How many people are unemployed in the US in 2024? ›

The number of unemployed people was little changed at 6.1 million in January 2024. Among the unemployed, 2.2 million, or 34.7 percent, were job losers not on a temporary layoff.

What is the highest projected employment for 2024? ›

Fastest-Growing Careers of 2024

Jobs with the highest projected growth rates from 2022 to 2032 include nurse practitioners, data scientists, wind turbine service technicians and physician assistants. Below are some of the fastest-growing careers in the health, tech and trade sectors.

How many jobs were added in May? ›

What Today's Report Showed: 272,000 jobs added in May up 97,000 from April. The labor force participation rate declined to 62.5 percent compared to 62.7 percent for April. The pre-pandemic level was 63.3 percent.

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