September Labor Report Recap
The most recent labor report from the Bureau of Labor Statistics shows a surge of new roles, with 336,000 new jobs added in September 2023. This represents an increase of 149,000 new jobs compared to August and July 2023. The unemployment rate remained at 3.8%, unchanged from August.
Leisure and hospitality, government, healthcare, and professional, scientific, and technical services saw the largest increase in new jobs in September.
Although the number of new jobs in healthcare decreased slightly to 41,000 this month, the industry has seen continued growth, with an average of 53,000 jobs added monthly over the past 12 months.
Government saw a spike in roles, with 73,000 new jobs added. This number is significantly higher than the monthly average of 47,000 new roles in the past year.
Professional, scientific, and technical services saw 29,000 roles added, which aligns closely with their average of 27,000 jobs added per month.
Leisure and hospitality also saw a significant increase in September, with 96,000 new roles added compared to 40,000 in August. Over the past year, this industry has had an average monthly gain of 61,000 jobs.
The influx of new jobs in September far exceeded expectations, showing signs of economic resilience.
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Source: September 2023 Monthly Jobs Report, Bureau of Labor Statistics