Job growth cooled in October, with 150,000 jobs added — 99,000 in the private sector and 51,000 in the public sector. The unemployment rate rose slightly at 3.9%, the highest rate since February 2022, but is still historically low. Layoffs have declined sharply since August, remaining below historical averages. The labor force participation rate dropped slightly to 62.7%, close to the pre-pandemic level (63.3%). Unemployed workers per job opening remained the same (.66), and job openings were at 9.55 million.
The core business areas Aston Carter supports were impacted in October, with finance and insurance jobs decreasing by 8,000 and 15,000 professional and business services jobs being added.
Labor Market Analysis
Job growth continued to accelerate last month as the U.S. economy added 275,000 new jobs in February, according to the U.S. Bureau of Labor Statistics. Read more about February's labor market trends in this month's report.
Read More www.astoncarter.com/en/insights/labor-reports/march-2024-labor-market-analysis
Labor Market Analysis
Job growth picked up in December, with 216,000 jobs added, while unemployment rate held steady at 3.7%.
Read More www.astoncarter.com/en/insights/labor-reports/january-2024-labor-market-analysis
Labor Market Analysis
Job growth picked up slightly in November, with 199,000 jobs added — 150,000 in the private sector and 49,000 in the public sector. The unemployment rate fell to 3.7%, and while layoffs have risen since October, they remain below historical averages.
Read More www.astoncarter.com/en/insights/labor-reports/december-2023-labor-market-analysis
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