The number of Americans filing for unemployment insurance ticked down a bit, according to latest federal unemployment claims data, out Thursday. That’s as the overall unemployment rate is still sitting at a comfortable 4.3% on average and businesses continue to add jobs. But the way the job market feels really depends on one’s location and employment status — in other words, the numbers can look good while the job market feels bad. “Two things can be true at once,” said Laura Ullrich, director of economic research at Indeed. “Job gains have been picking up … and it's a really tough time to be a job seeker.”Ullrich called the job market “paralyzed.” Because unemployment may be low, but so is hiring — which doesn’t feel great if you’re trying to get hired. “There were a couple times this year where the hires rate was as low as it was in April 2020 so think about that, like, who was hiring in April 2020?” she said.On the other hand, the market feels alright if you do have a job right now, because chances are good you aren’t going to lost it.“Perhaps the one lesson is, if you're in a job and you even like it a little, maybe stay put for now,” said Michael Goldberg, a professor in the School of Management at Case Western Reserve University.He said his job-seeking students are victims of a really uncertain job market. “Perhaps the most uncertain I've seen in my career,” he said.Another reason the market feels worse than the numbers suggest is they don’t tell the whole story, said Michele Evermore with the national employment law project.“Initial claims doesn't measure how many people are unemployed, it measures how many people are unemployed and are able to get an unemployment benefit,” she said.So if a person, say, quit to care for an aging parent, or didn’t bother to sign up for unemployment benefits because it was too difficult or too low to seem worth it, they’re not counted in the report.But some regions are painting a rosier picture. The unemployment rate in Ohio is 14% lower than the national average.“We talk to employers every single day … and everyone has that same challenge of, ‘I can't find enough people,” said Baiju Shah, president of the Greater Cleveland Partnership, a regional chamber of commerce.“People have been leaving the Midwest for decades, and now there’s a bunch of new economic growth there, the job market’s just a bit less frozen,” he said.Shah said Ohio companies are sending recruiters to other states, “that they feel are rich in talent, but have maybe a more challenging … cost of living.”Workers are buying what they’re selling. Ohio’s Department of Development reported that more people moved to Ohio last year than any time in the past 25 years.
Unemployment is still low, but so is hiring
Jobless claims dropped only slightly last week, and unemployment is fairly low at 4.3%. But that might feel different, depending on where you live.
US unemployment at 4.3% but hiring rates match April 2020 lows—labor market stagnation with minimal job churn. Tech managers enjoy staff stability yet encounter acute talent scarcity, complicating recruitment and team scaling.












