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A man and woman taking notes from the may 2023 jobs report.

May 2023 Jobs Report: A Look at April’s Trends

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Executive Summary

By Nicholas Ault, Aston Carter Market Research Analyst

Job growth in the labor market continued to defy recession concerns with the addition of 253,000 jobs in April — 230,000 in the private sector and 23,000 in the public sector. The unemployment rate returned to 3.4% to match January’s rate, the lowest it’s been since the 60s. Job openings continue to soften, dropping to 9.5M job openings, though still 44% higher than pre-pandemic levels.

April’s labor force participation rate remained unchanged at 62.6%. The unemployment rate decreased to an extremely low 3.4%, as strong job growth in the labor market coupled with little change in the labor force allowed those looking for work to find it.

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April 2023 labor market trends show 253K jobs gained.

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