Job Market Update: April 2017

What's the latest with the unemployment rate? We've got the details and the takeaways.

Articles

Jobs Added

211,000

  • Leisure and Hospitality

    55,000

  • Professional & Business Services

    39,000

  • Financial Activities

    19,000

  • Education & Health Services

    41,000

  • Manufacturing

    6,000

  • Retail Trade

    6,000

  • Information

    -7,000

  • Trade, Transportation & Utilities

    19,000

Rounding out President Trump’s first 100 days, job growth in April bumped back up above 200,000 after slow growth in March. Overall, 211,000 jobs were added in April. There were two revisions – 13,000 jobs were tacked on to February’s total, bringing it 232,000 jobs added. The exact opposite happened to March, as the new revision brings it from 98,000 jobs to 79,000 jobs.  

The unemployment rate continued to fall, down to 4.4% from 4.5%. 

Leisure and hospitality had a huge month, adding 55,000 jobs. Specifically, food services and drinking places contributed nearly half with 26,000 jobs, followed by an additional 13,000 in amusements, gambling and recreation. Professional and business services added 39,000 jobs and education and health services contributed an additional 41,000.

We’ve mentioned it already, but this low unemployment rate is going to continue to make the labor market a candidate-driven one. With jobs being added but unemployment going down, the labor market is just going to get more competitive. Our Regional Vice President gives his thoughts on this topic in a new article for In Business Madison.

Job Growth by Industry

March 2017

Unemployment Rate

  • Unemployment Rate

    4.4%

  • Change from Last Month

    -0.1%

In Your Region

March 2017

Let’s break the unemployment rate down for March by regions around the country. 17 states had lower unemployment rates in March while 33 states maintained a stable rate. 18 states improved with a jobless rate lower than the previous year.

West

West

  • Unemployment Rate

    4.6%

  • Change from Last Month

    -0.1%

Lowest and highest unemployment rates

Colorado (2.6 percent) / New Mexico (6.7 percent)

Midwest

Midwest

  • Unemployment Rate

    4.3%

  • Change from Last Month

    -0.2%

Lowest and highest unemployment rates

South Dakota (2.8 percent) / Ohio (5.1 percent)

Northeast

Northeast

  • Unemployment Rate

    3.8%

  • Change from Last Month

    -0.1%

Lowest and highest unemployment rates

New Hampshire (2.8 percent) / Connecticut (4.8 percent)

West

South

  • Unemployment Rate

    4.8%

  • Change from Last Month

    -0.1%

Lowest and highest unemployment rates

Virginia (3.8percent) / Alabama (5.8 percent)

Why This is So Important

This candidate driven job market allows us to draw an important conclusion: companies are converting temporary workers to permanent workers faster, and they’re paying their employees more.

Why? Because paying less can lead to more turnover, and lower productivity.

To illustrate this fact, we recently built a calculator that allows employers to see if their hourly pay rate affects their monthly turnover. A little hint… in most cases, it does.

Will job additions, along with the unemployment rate, continue to decrease as companies pay more? We’ll have to wait and see. Check back next month for our next BLS report, released June 2!

This image and all data supporting this monthly blog post is provided by the BLS Regional and State Unemployment Report and the BLS Employment Situation Summary.

Related Articles

Watch the skills gap

See how U.S. executives see the skills gap impacting the American workforce.

read more
Webinar: Managing Multiple Generations in the Workplace

Managing generational differences in the workplace is proving to be a challenge for many – especially when a customer service aspect is involved.

read more