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  • Writer's pictureNick Andriacchi

October Jobs Report Reflect The American Spirit

inside the numbers:

The American spirit never ceases to amaze me. With COVID rising, no additional federal stimulus and uncertainty that comes with any major election, the economy keeps rolling along. Staffers biggest impediment is still the lack of available candidates.


Temporary help was up big in October. Temporary help is a leading indicator of the employment as a whole so this is a very good number. Additionally, after a slow-down in the summer, I am seeing indications that IT, Nursing and Engineering are starting to pick up.


  • Temporary help gained 108,700 jobs in October. The monthly winning streak not only extended – but job fills picked up steam! Temporary help is a leading indicator of the employment as a whole so this is a very good number. Additionally, after a slow down in the summer, I am seeing indications that IT, Nursing and Engineering are starting to pick up.


  • Prime age labor force participation rate (ages 25-54) was up this month by .3% to 81.2%. While the number has improved since April, it is still down by 1.6% year-over-year,

  • The overall labor force participation was up .3% to 61.7%.

  • Average hourly earnings for all employees on private nonfarm payrolls increased by 4 cents to $29.50.

  • The average workweek for all employees on private nonfarm payrolls remained unchanged at 34.8 hours in October. In manufacturing, the workweek rose by 0.3 hour to 40.5 hours, and overtime increased by 0.2 hour to 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was up .1 to 34.2 hours.

  • September JOLTS Report: The number of job openings was little changed at 6.4 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 5.9 million and 4.7 million, respectively. Within separations, the quits rate was little changed at 2.1 percent while the layoffs and discharges rate decreased to a series low of 0.9 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by four geographic regions.

  • JOLTS Recap continued: In September, the number and rate of hires were little changed at 5.9 million and 4.1 percent, respectively. Hires decreased in federal government (-256,000), largely due to a drop in demand for temporary 2020 Census workers. Hires also decreased in retail trade (-105,000) and educational services (-23,000). The number of hires increased in accommodation and food services (+137,000), wholesale trade (+73,000), and transportation, warehousing, and utilities (+46,000). The number of hires was little changed in all four regions.

  • Over the 12 months ending in September, hires totaled 70.4 million and separations totaled 76.4 million, yielding a net employment loss of 6.0 million. These totals include workers who may have been hired and separated more than once during the year.

Private payrolls rose by 365,000 in October, according to a report from ADP.


Source: https://www.bls.gov/news.release/empsit.nr0.htm

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