April 2024 U.S. jobs report: What it says about the economy

America's jobs market increasingly appears to have a steady demand for skilled workers and a flagging interest in hiring more "knowledge-based" professionals.

America's job market increasingly appears to be splitting into two tracks, economists say, alongside a steady demand for skilled workers and a flagging interest in hiring more "knowledge-based" professionals.

The evidence can be found in the data, which shows a higher unemployment rate for professional and business services workers, and a lower one for people who work in manufacturing.

"It's a buyer's market for brain and a seller's market for brawn," said Aaron Terrazas, chief economist at the jobs and workplace search site Glassdoor.

On Friday, the Bureau of Labor Statistics reported the latest monthly payroll data for the U.S. economy. Total employment rose by 175,000 in April. The unemployment rate rose slightly to 3.9% from 3.8% in March.

That came in below estimates of 240,000 jobs for April.

https://www.nbcnews.com/business/economy/april-2024-us-jobs-report-labor-market-rcna150239

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