"Total nonfarm payroll employment edged up by 119,000 in September but has shown little change since April, the U.S. Bureau of Labor Statistics reported today. The unemployment rate, at 4.4 percent, changed little in September. Employment continued to trend up in health care, food services, drinking places, and social assistance. Job losses occurred in transportation and warehousing and in the federal government. We saw growth in construction jobs, but we lost manufacturing jobs again."
"The usual sectors that create most of the jobs stayed true in this report, and yes, we did have a negative 33,000 in revisions in the previous months. The government sector provided job growth in this report, which got us over the 100,000 level with 22,000 jobs created this month. This report shows that manufacturing jobs have been lost again and have continued their slow decline since late 2022."
"Not a lot of people know this, but the boom in manufacturing jobs from 2020 to 2022 has started to reverse slowly. Here is a longer-term look at the history of manufacturing jobs. In a shorter-term chart, you can see the struggles in this sector, with many revisions in place. Here, we peaked in jobs around February of 2023 and slowly moved lower. We are below pre-COVID-19 levels."
Total nonfarm payroll employment increased by 119,000 in September while showing little net change since April. The unemployment rate held at 4.4 percent. Employment rose in health care, food services and drinking places, social assistance, construction, and the government sector, which added 22,000 jobs. Job losses occurred in transportation and warehousing, the federal government, and manufacturing. Manufacturing employment has declined slowly since late 2022, peaking around February 2023 and falling below pre‑COVID‑19 levels. Revisions subtracted 33,000 from prior months. Specialty contract and remodeling labor remain in downtrends amid warnings from Home Depot. The government shutdown beginning Oct. 1 did not affect these September figures.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]