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Employment Landscape

April 2024 Overview

The American employment landscape is constantly changing. Keep up-to-date with the most recent trends with our monthly Employment Landscape Overview. Figures and statistics sourced from the Bureau of Labor Statistics and the American Staffing Association

  • Green icon of people with a gear and target icon above them

    Unemployment rate changed little - 3.9%

    Both the unemployment rate, at 3.9 percent, and the number of unemployed people, at 6.5 million, changed little in April. The unemployment rate has remained in a narrow range of 3.7 percent to 3.9 percent since August 2023.

  • Green icon of a briefcase with a circle and a diagonal line through the middle

    Long-term unemployed was little changed

    The number of long-term unemployed (those jobless for 27 weeks or more), at 1.3 million, was essentially unchanged in April. The long-term unemployed accounted for 19.6 percent of all unemployed people.

  • Green icon of people with a gear and target icon above them

    Labor force participation​ unchanged

    The labor force participation rate held at 62.7 percent in April, and the employment-population ratio was little changed at 60.2 percent. These measures have shown little change over the year.

  • Green icon of an envelope that has a piece of paper with a dollar sign on it peeking out of the envelope

    Average hourly earnings rose by $0.07

    In April, average hourly earnings for all employees on private nonfarm payrolls increased by 7 cents, or 0.2 percent, to $34.75. Over the past 12 months, average hourly earnings have increased by 3.9 percent. In April, average hourly earnings of private-sector production and nonsupervisory employees edged up by 6 cents, or 0.2 percent, to $29.83.

  • Green icon of a piece of paper with an X symbol on it

    Number of people working part time for economics reasons changed little

    The number of people employed part time for economic reasons, at 4.5 million, changed little in April. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.

  • Green icon of a gear, inside of the gear is a plant, coin with a dollar sign on it, and a house

    People not in the labor force who currently want a job little changed

    Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force, at 1.6 million, was little changed in April. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, also changed little over the month at 362,000.

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    Temp penetration rate at 1.73%

    Temporary help employment was 1.73% of total nonfarm employment in April, little changed from March at 1.74%.

  • Green icon of people branched out, one person in the center and six people branched out from that person in the center

    Temp help jobs decreased​

    Temporary help jobs in April decreased -6.3%, seasonally adjusted, from the same month last year.

  • Green icon of a hand holding a coin that has a dollar sign on it

    Nonfarm payroll employment up​

    Total nonfarm payroll employment increased by 175,000 in April, lower than the average monthly gain of 242,000 over the prior 12 months.

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Industry Trends

Broadleaf summarizes the latest industry trends each month to keep you informed as you make decisions about the future of your business.

  • The business case for gender equality, diversity, and inclusion is strong and growing stronger.

    $12tn in additional GDP if gender gap is narrowed by 2025
    $2bn in potential revenue if financial institution efforts broaden services for black Americans
    160m women may need to change jobs through 2030 due to automation

  • Women are not losing their ambition

    96% of women said their career is important to them. Women under 30 years of age are especially ambitious: 9 in 10 women want to be promoted to the next level, and 3 in 4 want to get all the way to the very top. And that ambition is highest among women of color.

  • Importance of building leadership paths

    The reason we only have 28% women in the C-suite is because we aren’t building that leadership path at the very beginning of [women’s] careers, to create a pool of talent that would be available and ready for those opportunities when they open up.

  • Learning & Development

    Training software equipped with authoring tools increased in usage from 37% to 39% in 2021, according to an industry report by Training Mag. In 2024, we can expect the trend to increase as the use of Learning Management Systems (LMS) and training customization tools increases.

     

  • New research from TalentLMS and Vyond revealed that 41% of employees willl ook for another job in 2024if their company doesn’t provide them with training opportunities.

    66% of the 1,000 respondents say they need to develop new skills to be successful at their job. Here are the five trends spotted in the report:

    • Personalized learning
    • Overall well-being will help support
    • AI in training
    • Integrating L&D with business goals
    • Focus on interpersonal skills

  • 7 Takeaways for Employers:

    • Fast-track the development of new skills.
    • Fire up internal mobility to address skill gaps.
    • Embed learning into the workflow.
    • Shift from a content-centric to a learner-centric approach.
    • Empower learners with data.
    • Craft captivating learning experiences.
    • Develop a learning culture as learning takes a village.

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