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The unemployment rate fell from 4.40% in Feb 2026 to 4.30% in Apr 2026, marking the first sustained decline after climbing from 3.90% in Apr 2024 to a peak of 4.50% in Nov 2025. This reversal occurs amid mixed economic signals: GDP growth remains modest at 1.4% over 3 months, while both CPI and 10-year Treasury yields hit new records. The timing suggests labor markets may be stabilizing despite broader economic pressures. The 0.6 percentage point unemployment increase over two years coincided with significant monetary tightening reflected in record-high bond yields.