The May Employment Report confirms that the labor market is gaining traction. The economy added 172,000 jobs in May, unemployment held steady, and underemployment ticked down as more workers found the roles and hours they were looking for. Labor force participation remains low but stable. Taken together, the data suggest that energy is returning to a labor market that had been largely stagnant just in time for summer.

Job openings surged to 7.6 million in April, the highest level in nearly two years, but hiring pulled back to a 3.2% rate. The gap between employer demand and actual hiring points to a widening skills mismatch — and structural forces like an aging workforce and reduced immigration mean it won't close quickly.

The April Employment Report shows a stabilizing trend, with 115,000 jobs added and unemployment holding at 4.3%. Declining labor force participation means fewer jobs are needed to maintain that rate. Excluding February's weather- and strike-related blip, the first four months of 2026 suggest the mid six figures may be the labor market's new normal.

The March Job Openings and Labor Turnover Survey (JOLTS) reported that while the level of job openings remained relatively unchanged, employer activity increased, as hires bumped up by 655,000 in March, taking the hires rate from the February slump of 3.1% back to 3.4%, matching the highest level since early 2024.

The March Employment Report reversed course from the February dip, and posted a large gain: an increase of 178,000 jobs in March blew past expectations to the highest gain since December 2024. Unemployment ticked back down to 4.3% as labor force participation fell to 61.9%. While the headline numbers are stronger than expected, a peak under the hood presents a shrinking labor force and continued challenges for those looking for work.

The February Job Openings and Labor Turnover Survey (JOLTS) reported a decrease in job openings from revised January numbers. A mix of severe weather and healthcare strikes led to the lower than expected employment growth in February, and the lowest level and rate of hires since April 2020. Aside from the 2020 dip, the hires level has not been this low since 2014, when the labor market was still rebuilding after the Great Recession. While unemployment in today’s market remains low, the stall in hiring, coupled with a delay in retirement activity, is leading to a locked-out market for many new entrants.

The February Employment Report proves that one month is not a trend. January's labor market gains reversed course in February, with employment declining by 92,000 jobs, far off from consensus estimates. Outside of October's government shutdown, the longest in history, this is the largest monthly job loss since 2020.

The December Job Openings and Labor Turnover Survey (JOLTS) report confirms a trend that many job seekers are already feeling: the labor market is becoming increasingly difficult to navigate. Job openings fell to 6.5 million in December—a decline of nearly one million from a year ago and the lowest level in over five years. While the unemployment rate has shown signs of stabilizing, the environment remains highly competitive, with roughly one million more unemployed individuals than available job openings.

The December Employment Report caps off a historically weak year for the labor market, with the economy adding a meager 50,000 jobs, barely enough to keep pace with population growth. With only 584,000 net jobs added across all of 2025, the labor market has deteriorated dramatically from 2024's 2.0 million job gain, representing a 71% year-over-year decline in job creation.

The November Job Openings and Labor Turnover Survey (JOLTS) report shows that job openings fell once again in November to 7.1 million. Compared to last November, the US labor market now has over 800,000 fewer job openings, with over 700,000 more unemployed individuals. It appears the bump in October job openings was more of a blip with data collection than a pivot in market direction. For now, the labor market shows more signs of softening than of recovery.