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%.

What are the job statistics for 2024? ›

U.S. employment is projected to increase 6.5 percent during the 2014–24 decade, from 150.5 million jobs in 2014 to 160.3 million jobs in 2024. The U.S. Bureau of Labor Statistics (BLS) Employment Projections program releases projections for 819 detailed occupations.

Which industry will have the largest increase in the number employed between now and 2024? ›

The health care and social assistance sector will account for over a third of the nation's projected job growth from 2014 to 2024. The construction industry is projected to have the largest industry increase in employment, but construction employment is not expected to reach prerecession levels by 2024.

What are the three fastest growing jobs in 2024? ›

Given this situation, what are the jobs on the rise and what can companies look at while recruiting? In India, closing manager, influencer marketing specialist, and design specialist are the top three fastest growing jobs in 2024. The growth rates are above 79%.

Is the job market good or bad right now? ›

The U.S. job market expanded in April for the 40th consecutive month, but at a slower pace. 175,000 new jobs were added in April, the lowest monthly jobs number so far in 2024. The unemployment rate remains below 4% and wage gains are still above average, but the pace of wage growth is slowing.

Where is the job market headed in 2024? ›

The path toward improvement is expected to continue in 2024, as the job market continues to see closer to pre-pandemic levels. With the expansion in technology and other industries adapting to allow for these changes, new jobs are continuing to emerge while existing jobs are continuing to evolve.

What jobs will be in-demand in 2024? ›

These are the Best Jobs of 2024, According to Indeed
RankJob title% Containing Remote & Hybrid Phrases
1mental health technician18
2loan officer75
3mental health therapist41
4electrical engineer19
21 more rows
Apr 18, 2024

What industry is booming in 2024? ›

The tech sector was chosen as one of the best sectors for investors in 2024 due to its continuous innovation, growth potential, and increasing integration into all aspects of life and business.

What's the fastest growing industry in America? ›

Fastest Growing Industries in the US by Revenue Growth (%) in 2024
  • Fruit & Nut Farming in the US. ...
  • Solar Power in the US. ...
  • Online Gambling Services in the US. ...
  • Hybrid & Electric Vehicle Manufacturing in the US. ...
  • 3D Printing & Rapid Prototyping Services in the US. ...
  • Fruit & Vegetable Wholesaling in the US.

Which is the fastest growing economy in the world 2024? ›

📈 Graph Time | Fastest growing economies in 2024

The country with the highest forecast for gross domestic product (GDP) growth in 2024 is Guyana. The IMF now expects the South American country's economy to expand by 33.9% this year — up from its 26.6% projection six months ago.

What jobs are losing demand? ›

Fastest declining occupations
2022 National Employment Matrix title2022 National Employment Matrix codeMedian annual wage, dollars, 2023
Word processors and typists43-902246,450
Watch and clock repairers49-906458,140
Roof bolters, mining47-504366,660
Cutters and trimmers, hand51-903137,040
28 more rows
Apr 17, 2024

What is the highest paying job in America? ›

Top 10 Highest Paying Jobs in USA (Inc Salaries)
  1. Chief Executive Officer. The company's Chief Executive Officer (CEO) is responsible for guiding the company towards success and growth. ...
  2. Physician/ Doctor. ...
  3. Psychiatrist. ...
  4. Airline Pilot. ...
  5. Oral and Maxillofacial Surgeon. ...
  6. Orthodontist. ...
  7. Lawyer. ...
  8. Architectural and Engineering Manager.
Apr 20, 2024

Which industry pays the highest salary? ›

The highest paying jobs include Data Scientist, Investment Banker, Surgeon, Petroleum Engineer, CEO, Corporate Lawyer, IT Manager, Psychiatrist, Web Developer, and Machine Learning Engineer.

Who is laying off in 2024? ›

Following significant workforce reductions in 2022 and 2023, this year has already seen 60,000 job cuts across 254 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024.

Why is finding a job so hard in 2024? ›

So far, in 2024, the job market has been getting tougher. Layoffs are up, wage growth is slowing down, and unemployment has ticked up to 3.9%.

What is the great resignation 2024? ›

Nearly 50% of people are considering leaving their jobs in 2024—more than during the 'great resignation' In 2022, at the height of the “great resignation,” a record 4.5 million workers each month — about 3% of the U.S. workforce — were quitting their jobs.

What are the future employment statistics? ›

Total employment is projected to grow 0.3 percent annually from 164.5 million in 2022 to 169.1 million in 2032.

What is the inflation rate for labor in 2024? ›

Inflation-adjusted (constant dollar) compensation costs for private industry workers increased 0.6 percent for the 12-month period ending in March 2024. Inflation-adjusted wages and salaries increased 0.8 percent for the 12 months ending March 2024.

What three jobs are expected to be in demand in 2025? ›

15 Most In-Demand Careers for the Future
  • Cybersecurity Engineer. ...
  • Artificial Intelligence (AI) Specialist. ...
  • Blockchain Specialist. ...
  • Wind Turbine Service Technicians. ...
  • Content Creators. ...
  • Tradespeople. ...
  • Virtual Health Coach. ...
  • Renewable Energy Specialist.
Feb 7, 2024

How long does it take to get a job in 2024? ›

In 2024, job seekers may find themselves spending anywhere from several weeks to several months searching for employment, depending on various factors such as: Industry Trends: Industries experiencing growth and high demand for skilled workers may offer quicker job placement opportunities.

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