{"id":5848,"date":"2024-11-01T10:02:41","date_gmt":"2024-11-01T17:02:41","guid":{"rendered":"https:\/\/addisongroup.com\/?p=5848"},"modified":"2024-11-01T10:02:43","modified_gmt":"2024-11-01T17:02:43","slug":"october-2024-labor-report","status":"publish","type":"post","link":"https:\/\/addisongroup.com\/insights\/october-2024-labor-report\/","title":{"rendered":"October labor report: Sluggish job growth, hampered by hurricanes, strikes"},"content":{"rendered":"\n

The US labor market added 12,000 jobs in October, according to the Bureau of Labor Statistics<\/a>. The unemployment rate remained unchanged at 4.1%. The October report was lower than economists\u2019 expectations due, in part, to several labor strikes and devastating hurricanes in the Southeast.<\/a><\/p>\n\n\n\n

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\"Addison<\/figure>\n<\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n

Healthcare saw 52,000 jobs added in October.<\/p>\n\n\n\n

Additional growth was reported in government, where 40,000 new jobs were added. Professional and business services and leisure\/hospitality saw losses of 47,000 and 4,000, respectively.<\/p>\n\n\n\n

Although the report is not as strong as previous months, most economists attribute much of the slowdown to effects related to the recent hurricanes and strikes. Additionally, the October numbers, combined with other economic factors, point to another likely quarter-point interest rate cut by the Fed when they meet next week.<\/p>\n\n\n\n

Need to hire before the end of the year? Addison Group<\/a> can help. For more than 20 years, we\u2019ve focused on quality over quotas. That means we listen to your goals and make matches that last. Let\u2019s work together.<\/a><\/p>\n\n\n\n

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Download the October labor report.<\/a><\/p>\n\n\n\n

Source: October 2024 Monthly Jobs Report, Bureau of Labor Statistics<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The US labor market added 12,000 jobs in October, according to the Bureau of Labor Statistics. The unemployment rate remained unchanged at 4.1%. The October report was lower than economists\u2019 expectations due, in part, to several labor strikes and devastating hurricanes in the Southeast.<\/p>\n","protected":false},"author":9,"featured_media":5852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[11,122],"tags":[],"post_function":[124,125,127,123,128,129],"post_audience":[115,130],"class_list":{"0":"post-5848","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-article","8":"category-labor-market-reports","9":"post_function-administrative","10":"post_function-digital-marketing","11":"post_function-finance-accounting","12":"post_function-healthcare","13":"post_function-human-resources","14":"post_function-it","15":"post_audience-candidate","16":"post_audience-employer"},"acf":[],"yoast_head":"\nOctober labor report: Sluggish job growth, hampered by hurricanes, strikes - 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