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Employment Growth in October

Last week, the Bureau of Labor Statistics (BLS) reported the addition of 261,000 jobs to the U.S. total nonfarm payroll employment during October. The BLS also reported the headline unemployment rate dropped to 4.1 percent – the lowest rate in the past 17 years.

The rebound in employment counteracts the slump in September which can be widely-attributed to Hurricanes Irma and Harvey.

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According to the BLS report, employment in the food services and drink places industry spiked in October increasing by +89,000 following September’s decrease of 98,000 due to the hurricanes. The manufacturing sector saw a rise in employment by 24,000 jobs last month while health care added about 22,000 jobs. The professional and business services industry also stayed on pace with its average monthly gain by adding 50,000 jobs to the market.

Other major industries such as mining, construction, retail, government, transportation and warehousing, and information services experienced minimal change during October.

Average hourly earnings for all employees on private nonfarm payrolls only slightly varied in October. But over the last 12 months, average hourly earnings have increased by 63 cents or 2.4 percent.

Click here for the Bureau of Labor Statistics October report in its entirety: www.bls.gov

AXIOMetrics – July 2017 Jobs Report

Earlier this week, AXIOMetrics, a market research company that provides strategic insight reports for real estate professionals, issued its July 2017 jobs report.

Here are some major takeaways:

  • 209,000 jobs were added to the U.S. economy in July
  • The national unemployment rate slightly dropped from 4.4% to 4.3%
  • Top five annual job growth markets – New York City, Dallas, Atlanta, Los Angeles, Orlando
  • Washington D.C. and Minneapolis-St. Paul move into top 10 of job-gaining metros

Beyond the major takeaways from the July jobs report, AXIOMetrics breaks down job growth by industry, analyzes how the Federal Reserve may interpret the current and upcoming economic climate, and explains how metrics like inflation and unemployment interact with each other.

The report also includes numerous graphs and visual aids to show how certain statistics compare to past metrics, but given the abundance of useful information provided by AXIOMetrics’ research, a personal analysis of the report is suggested to ensure a full understanding of job growth in the U.S. during July 2017.

Click here for the full AXIOMetrics July 2017 jobs report