In the US, the labor market is slowing down. Around 250,000 workers found new jobs and the unemployment rate fell to 3.4%, last April.
However, few jobs are hiring at the moment. Employers are looking for highly skilled individuals and cutting unnecessary jobs. Some of the industries hiring are professional and business services, health care, leisure, and hospitality. There is also high demand for specialized construction contractors and food service experts. Professional and business services had the biggest increase, adding 43,000 jobs. Employees in this industry made an average of $40.20 per hour.
Unfortunately, there were job losses in other areas. Many people working in employment services, like recruiters, lost their jobs. In fact, around 24,000 HR workers were laid off. There were job cuts in public transportation and building construction too. The real estate business is also struggling because people are working from home, and construction projects are delayed because of high interest rates.