October 2022 Labor Report Recap
According to the most recent jobs report from the Bureau of Labor Statistics (BLS), the United States job market continued to grow steadily, with 261,000 jobs added in October 2022. This shows a slight decrease in the jobs added compared to last month, while the unemployment rate increased to 3.7 percent.
The industries that saw the most significant job gains occurred in healthcare, professional and technical services, and manufacturing.
Among the top industries with the largest increases in October, healthcare saw considerable growth, with 53,000 jobs added. These gains have been an ongoing trend throughout the year, with healthcare employment increasing by an average of 47,000 jobs per month in 2022.
Although the level of new jobs is lower than it was earlier this year, the job market is still in a great spot moving into 2023.
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Source: October 2022 Monthly Jobs Report, Bureau of Labor Statistics
