April 2026 Market Trends Report
April’s jobs report summoned hope for a rebound, marking the second-consecutive month of healthy job growth. The Bureau of Labor Statistics reported 115,000 added jobs, with unemployment holding steady at 4.3%.
March and April’s gains offer welcome relief after February’s sharp losses (revised down by 156,000 positions). However, outside of healthcare, broader labor market performance remains uneven.
Over the past 12 months, healthcare and private education added 618,000 jobs, masking weakness across the broader labor market. Other sectors combined lost 367,300.
On the ground, the labor force is adapting to a world where 18% of job seekers expect to submit 100+ applications before finding work, compared to 6% in 2025, as reported in our Q1 2026 Job Seeker Survey. In response, candidates are prioritizing workforce stability and avoiding jobs where commute times add economic burden.
Despite these pressures, the market has remained more resilient than expected. As Q2 unfolds, economists will be looking for signs that this resilience could extend across more sectors.
Jobs Market Overview: April 2026
4.3%
Overall unemployment rate
Unemployment was unchanged month over month, sitting between a post-pandemic low of 3.4% in April 2023 and a high of 4.5% in November 2025.
+115k
Jobs added
After a startling downshift in February, employers added positions in March and April, with last month's gains largely concentrated in healthcare.
61.8%
Labor force participation rate (LFPR)
Labor force participation declined to 61.8%, continuing a gradual downturn from a high of 62.6% in April 2025.
Industry Employment Trends
OVERALL ECONOMY
+115k
Monthly job change
(-251k year over year)
| Industry | Monthly Job Change | YOY Difference |
| Manufacturing | -2k | -66k |
| Automotive | -3k | -15.7k |
| Warehousing & Storage | +0.5k | -50.6k |
| Architectural & Engineering | +3.9k | +40.5k |
| Construction | +9k | +50k |
Source: Bureau of Labor Statistics' Economic News Release
Market Spotlight
“As economic pressures increase, candidate priorities are shifting — and employers must adapt how they evaluate talent. While pay remains important, more of it is funneled into the tank as gas prices surge beyond historic highs.
Candidates traveling longer distances are more likely to request higher wages, decline offers or leave early, putting timelines and team stability at risk. As a result, proximity will matter more in talent matching, and with wage inflation on the horizon, employers should get ahead of changing expectations before they impact hiring.”
Marques Williams
Executive Director of Financial Operations
Sector-by-Sector News: April 2026
Construction Jobs Report
Month-over-month jobs change: +9,000
Year-over-year jobs change: +50,000
The construction industry continued to grow in April, with nonresidential projects driving momentum and adding 19,000 jobs. While residential construction declined (-10,400 jobs), total industry employment still increased by 9,000 overall.
Through the first quarter, hiring averaged more than 19,000 jobs per month, positioning construction as one of the strongest-performing industries so far this year, especially compared to softer employment trends in 2025.
Despite modest growth across the broader industry, contractor sentiment remains positive. Associated Builders and Contractors (ABC) Chief Economist Anirban Basu attributes this strength to surging data construction spending, which has increased 34% over the past year.
Contractors appear to be maintaining project activity, though economists are watching closely to see how demand will hold up in Q2 amid ongoing macroeconomic pressures.
Manufacturing Jobs Report
Month-over-month jobs change: -2,000
Year-over-year jobs change: -66,000
March Manufacturing PMI: 52.7%
*A PMI reading above 50% suggests economic activity is expanding.
Manufacturing activity expanded for the fourth consecutive month after nearly continuous contraction since November 2022, signaling a return to growth, but with limited momentum.
According to the Institute for Supply Management (ISM), demand remained positive in April and continued to support production. However, employment moved in the opposite direction, declining by 2,000 positions month over month and 66,000 year over year. This divergence suggests manufacturers are staying cautious amidst economic uncertainty, relying more on productivity gains and automation than workforce expansion.
Alongside employment declines, cost pressures continue to build. The prices index surged to 8.4% last month, its highest level since April 2022. Raw materials, energy and tariff costs drove cost pressures, emerging as key risks to sustained growth.
This pattern of steady yet fragile expansion is likely to persist through the year as trade tensions and geopolitical instability continue to spark price surges and supplier delays.
Warehousing & Storage Jobs Report
Month-over-month jobs change: +500
Year-over-year jobs change: -50,600
March Logistics Managers' Index (LMI): 69.9*
*An LMI reading above 50 indicated logistics are expanding.
The LMI (Logistics Managers’ Index) surged in April, rising 4.2 points month over month to 69.9, its fastest historical expansion since March 2022’s reading of 76.2.
Transportation drove the strongest movement in the index from deep contractions in capacity and extremely elevated prices, which climbed to 95.0 — the second-highest reading in history (behind 95.8 in 2018).
When prices spike in tandem with collapsing capacity, shippers face heightened risk across across availability, lead times and service reliability. April’s report recorded the largest recorded gap between transportation prices and capacity. This reflects the compounding impact of higher fuel costs and geopolitical disruption tied to the U.S.-Iran conflict — factors likely to keep logistics costs elevated and transportation availability constrained.