Key Takeaways:
- Job listings are likely to take a dip in April.
- The rising interest rates and inflated economy is causing a decrease in available jobs.
- Greenwich HR is predicting a nearly 1% decrease in available jobs.
The labor market is finally cooling as rising interest rates and the poor state of the economy is affecting job availability. Job listings fell last month and our data is predicting a continued fall.
According to the U.S. Labor Department’s job report for March 2023, employers added 236,000 new jobs and the unemployment rate was 3.5%.
Greenwich HR data is predicting a 1% decrease in the number of available jobs compared to March.
Despite the slowdown companies are still adding workers faster than they did in 2019. Leisure and hospitality positions are still in demand.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the April post-job report.
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