Back to Blog
Pinterest evernote jobs5/30/2023 ![]() Employment in the professional and business services industry increased by 46,000 jobs. Healthcare added 60,000 jobs in September, returning employment in the sector back to its pre-pandemic level. Still, leisure and hospitality employment remains 1.1 million jobs below its pre-pandemic level. The bulk of the gains were at restaurants and bars. The broad increase in employment was led by the leisure and hospitality industry, where payrolls increased by 83,000 jobs. ![]() The unemployment rate was forecast unchanged at 3.7%. Job growth has averaged 420,000 per month this year, down from the monthly average of 562,000 in 2021.Įconomists polled by Reuters had forecast 250,000 job gains, with estimates ranging from as low as 127,000 to as high as 375,000. Nonfarm payrolls increased by 263,000 jobs last month after rising by an unrevised 315,000 in August, the survey of establishments showed. “The labor market isn’t just rolling along, it’s a virtual steam-roller that does nothing to slow economic demand and help the Fed in its inflation fight,” said Christopher Rupkey, chief economist at FWDBONDS in New York. The labor market continues to show resilience despite the Fed’s stiff interest rate hikes. Though the two-percentage point decline in the jobless rate from 3.7% in August was partly because of people leaving the workforce, the Labor Department’s closely watched employment report on Friday also showed fewer Americans working part-time for economic reasons last month. employers hired more workers than expected in September, while the unemployment rate dropped to 3.5%, pointing to a tight labor market that keeps the Federal Reserve on its aggressive monetary policy tightening campaign for a while.
0 Comments
Read More
Leave a Reply. |