Real time jobs report data summary. Figures are based on the latest data provided by the Bureau of Labor Statistics (BLS.gov). All jobs numbers are for non-farm employment.
- Month Over Month: -1.4%
- 3 Month Average: -2,200
- Year Over Year: -10.4%
- Month Over Month: +1.1%
- 3 Month Average: 29,033
- Year Over Year: -5.8%
- Month Over Month: +0.5%
- 3 Month Average: 934,333
- Year Over Year: -6.1%
- Month Over Month: -1.6%
- 3 Month Average: 8.4%
- Year Over Year: +3.6%
- Month Over Month: +0.2%
- 3 Month Average: 7.53%
- Year Over Year: +3.6%
- Month Over Month: -1.0%
- 3 Month Average: 7.73%
- Year Over Year: +3.3%
In the final days leading up to the election, job growth in October continued and unemployment inched lower.
The momentum of job growth continues on a slowing trend, but the direction for many industries is largely positive and delivered stronger than expected numbers last month. 23,000 fewer jobs were added in October compared to September, and unemployment took a dive lowering a full point to 6.9%.
Industry trends continue through October.
Leisure & hospitality (+271,000) and Goods-producing (+123,000) industries showed the strongest growth, speaking to the continued reopening of restaurants and entertainment businesses across the country in addition to manufacturing facilities. Retail trade (+103,700) continues to grow at a slower pace as the industry reacts to changes in how consumers are shopping in this pandemic era, while Health care & social assistance (+79,000) added the fourth-highest numbers, though less rapidly than the prior month.
Declining industries were isolated to Transportation equipment (-2,400), Telecommunications (-5,800) and Air transportation (-17,000) which saw the steepest drop, attributable to the hesitation of many travelers and businesses to return to flying causing airlines to lay-off thousands of workers.
It will be interesting to see the effect the results of the election will have across industries as we enter November, with implications including corporate taxes, emissions regulations, employee benefits and more. Business investment and hiring strategies heading into 2021 hang in the balance.
Some businesses are on the recovery trail.
Adecco has been busy supporting clients especially in the retail and medical industries over the past month. Temporary help employment increased by 4.4% in October (+108,700), which is exactly the flexible workforce we’re able to provide.
It’s the fourth quarter, and retail businesses are feeling the hustle and bustle of ramp season with filling online orders at a volume much higher than 2019. While overall growth has slowed for parts of the retail, consumer goods, and eCommerce industries, the need for temporary workers to fill orders has been critical. Adecco’s Enterprise division supports large-onsite businesses predominantly in this space.
Amy Glaser, Senior Vice President for Adecco Enterprise, was featured by CNBC and shared that the October jobs report is reflective of what we’re seeing with our clients. “It’s always a busy time for us. This year is no different. In fact, our numbers for seasonal positions have increased year over year, which is a great sign.” For this year’s seasonal workforce, more associates on assignment have a stronger opportunity at obtaining long-term employment at the end of the season as the road to recovery and race for talent unfolds before us. We anticipate this positive trend to continue.
Amy continued, sharing that “employers have learned a lot of lessons since the initial onslaught of COVID-19. They’re acknowledging the fact that employees are going to need to be quarantined or stay at home, and they’re actually building a buffer to help cover any absence that occur.”
Adecco Medical & Science has hired more associates for our clients in 2020 than ever before, ramping up for COVID-19 testing and hiring laboratory technicians to support the need. Jason Guggisberg, Vice President of Adecco Medical & Science, has seen a large push in the quest to help suppress the pandemic. Roles for Licensed Practical Nurses (LPN) and Vocational Nurses (LVN) have increased, as laboratories across the country are processing enormous volumes of tests. Adecco Medical & Science is working closely with clients to stay human centric and health focused.
What does this mean for your business?
Flexibility continues to be of utmost importance when it comes to hiring and retaining great talent, regardless of industry. The outcome of the election will impact consumer confidence and the road forward.
The talent supply of ready and willing workers remains tight, with concerns around COVID-19 impacting the decisions of workers re-entering the market. Average hourly earnings of private-sector production rose by .05 cents to $24.82, and numerous states this election cycle have approved legislation impacting the minimum wage.
We’ve got the expertise, recruiting technology and ready-to-work talent that you may need as we conclude the wild ride of 2020 and head into a new year. If you need recruitment, onboarding or other staffing support, we are here to help.
Local Industry Job Growth from the B.L.S.
- From Last Month: -4.6%
- 3 Month Average: 33
- From Last Year: -20.3%
- From Last Month: 0.0%
- 3 Month Average: 5
- From Last Year: -4.3%
- From Last Month: -3.6%
- 3 Month Average: 28
- From Last Year: -10.0%
- From Last Month: +3.6%
- 3 Month Average: 75
- From Last Year: +7.3%
- From Last Month: -0.6%
- 3 Month Average: 48
- From Last Year: -6.9%
- From Last Month: +0.6%
- 3 Month Average: 16
- From Last Year: 0.0%
- From Last Month: -0.8%
- 3 Month Average: 38
- From Last Year: -1.6%
U.S. Job Growth for All Sectors
Local Job Reports
- Anaheim-Santa Ana-Irvine, Metro Division
- Riverside-San Bernardino-Ontario
- Oxnard-Thousand Oaks-Ventura
- Oakland-Hayward-Berkeley Metropolitan Division
- Los Angeles-Long Beach-Glendale
- San Jose-Sunnyvale-Santa Clara
- San Diego-Carlsbad
- West Palm Beach-Boca Raton-Delray Beach, Metro Division
- Tampa-St. Petersburg-Clearwater
- Palm Bay-Melbourne-Titusville
- Panama City
- Fort Lauderdale-Pompano Beach-Deerfield Beach
- Miami-Fort Lauderdale-West Palm Beach
- Miami-Miami Beach-Kendall
- Lakeland-Winter Haven
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina
- South Dakota
- West Virginia