Posts
Oct 09, 2024 – 3 mins read
September Jobs Report: U.S. Employers Continue to Add Jobs Despite Economic Uncertainty
In September, U.S. employers added 254,000 jobs, exceeding expectations of 140,000 and marking the highest gain since March. Revisions from previous months added another 72,000 jobs. The unemployment rate dropped to 4.1%, signaling a healthy labor market as more people find work. Job gains were led by the healthcare sector, which added 72,000 jobs, followed by restaurants with 69,000. However, manufacturing lost 7,000 jobs, particularly in car manufacturing. The tech sector showed modest improvement with 6,000 new jobs, while temporary help services saw a decline of 14,000 jobs, likely due to increased permanent hiring. While this report offers optimism for the Federal Reserve in managing inflation and a potential soft landing, it remains one month of data, and labor market weakening is still possible. Hiring is slower compared to last year, but inflation has cooled, and consumer spending remains stable, providing a cautiously positive outlook for the economy.
Jul 08, 2024 – 2 mins read
Monthly U.S. Labor Market Report - June 2024
The U.S. labor market showed strong resilience in June 2024, with the unemployment rate dropping to 3.6% and job openings rising to 10.3 million, a 5% increase from May. Wage growth was significant, with average hourly earnings up by 4.2% year-over-year. However, challenges such as skills mismatches and regional disparities persist. Employers are advised to invest in training, offer competitive compensation, and tailor recruitment strategies to regional conditions. Business Draft remains committed to supporting your recruitment needs with our all-in-one Applicant Tracking System (ATS). Stay tuned for more insights next month.