ARTICLE
The September federal jobs report was released earlier today and the overall number was well above expectations at 336,000, roughly twice what most economists were predicting. In addition, payroll growth averaged 266,00 over the past three months, also largely above what was predicted. According to Forbes, “the data also suggest that the large increase in job vacancy rates in August — from 5.3% to 5.8% — is not just a statistical fluke. The labor market seems to have regained some strength, after months when it appeared to be cooling.” Three sectors carried the most growth: leisure/hospitality (96,000), government (71,000), and health care (41,000). Manufacturing also remains strong with the report showing there were more than 13 million jobs in that sector. ?Per the report, construction employment also increased 11,000 and is now 406,000 above the pre-pandemic level. Click here to read the report from the Bureau of Labor Statistics.
The September federal jobs report was released earlier today and the overall number was well above expectations at 336,000, roughly twice what most economists were predicting. In addition, payroll growth averaged 266,00 over the past three months, also largely above what was predicted. According to Forbes, “the data also suggest that the large increase in job vacancy rates in August — from 5.3% to 5.8% — is not just a statistical fluke. The labor market seems to have regained some strength, after months when it appeared to be cooling.” Three sectors carried the most growth: leisure/hospitality (96,000), government (71,000), and health care (41,000). Manufacturing also remains strong with the report showing there were more than 13 million jobs in that sector.
?Per the report, construction employment also increased 11,000 and is now 406,000 above the pre-pandemic level. Click here to read the report from the Bureau of Labor Statistics.