National & International

Three things to know about the latest job report from the Bureau of Labor Statistics

By Cortlynn Stark and The Sum News
The latest unemployment rate
The unemployment rate dropped to 3.4% in April, according to the Bureau of Labor Statistics. The Sum News

Unemployment dropped again, according to the latest U.S. Bureau of Labor Statistics report.

Here are three things you should know:

  1. The unemployment rate dropped to 3.4% in April. The last time the rate was this low was January, and before that May 1969.
  2. This marks the 28th month in a row of solid job growth, The Washington Post reported.
  3. It follows the 10th interest rate hike since March 2022 from the Federal Reserve. Chair Jerome Powell said he is optimistic the labor market’s resilience can help avoid a recession, but added a “mild recession” is possible.
@thesum.news In April, employers nationwide added 253,000 jobs, according to the U.S. Bureau of Labor Statistics, with employment trending up in areas such as health care, hospitality, social assistance, and professional and business services. #TheSumNews #JobsReport #Unemployment #employment #jobs ♬ original sound - The Sum

This all comes over concern about economic growth and a banking crisis. And we don’t know yet if the Fed will pause on rate increases.

This story was originally published May 10, 2023 at 6:37 PM with the headline "Three things to know about the latest job report from the Bureau of Labor Statistics."

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Cortlynn Stark
The Kansas City Star
816-234-4784
Cortlynn Stark writes about finance and the economy for The Sum. She is a Certified Financial Education Instructor℠ with the National Financial Educators Council. She previously covered City Hall for The Kansas City Star and joined The Star in January 2020 as a breaking news reporter. Cortlynn studied journalism and Spanish at Missouri State University.
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