No tricks, just treats in October’s jobs report
The labor market bounced back, adding 261,000 jobs in October, according to the Bureau of Labor Statistics’ report. See which industries saw the most job growth last month.
Nothing can hold us back for too long. After experiencing mass destruction from Hurricane Harvey this year, Houston has come back stronger than ever, with the Astros winning the 2017 World Series.
And it appears that the labor market is following Houston’s lead with impressive job growth after a disappointing September. So put on your rally caps, and get ready to go back to work, America, because we have some good news.
According to the latest edition of the U.S. Bureau of Labor Statistics’ monthly jobs report, 261,000 jobs were created in October. While this is a strong number regardless, this is especially good news after seeing a weak report in September, which originally showed a decline of 33,000 jobs as a result of the hurricanes, but has now been revised up to a positive 18,000.
Keeping up with this excellent job growth, employment also rose by 50,000 in professional and business services last month, back in line with its average monthly gain over the past year.
Finally, a mainstay hiring powerhouse, health care finished out the month having added 22,000 jobs, with employment in ambulatory care services continuing to expand by 16,000.
All of these numbers jibe with the latest edition of the Monster 100—our monthly roundup of the companies with the most new job listings on Monster. In manufacturing, you’ll see that Goodyear, Bowhead, and Magna International are making some of the biggest hiring pushes at the moment, while Kindred Healthcare and Brookdale Senior Living are two of the Monster 100’s top performing health care companies.
While both the unemployment rate edged down slightly from 4.2% to 4.1%, and average hourly earnings by just a penny, now totaling $26.53, the past jobs reports’ numbers were revised up. August’s numbers were changed from 169,000 to 208,000, and as previously stated, September’s loss of 33,000 jobs was reversed to a gain of 18,000. Overall, that’s 90,000 more jobs than previously reported.
November’s jobs report comes out Friday, Dec. 8 at 8:30 a.m.