Employment Down 15 Percent in October, Report Says

Leading Employment and Career Site JobsWeb.com Shares Employment Trends the U.S. Bureau of Labor Statistics’ Economic Situation Report

Total nonfarm employment grew by 161,000 in October, a 15 percent decrease over the number of jobs gained in September, according to the latest employment numbers from the U.S Bureau of Labor Statistics’ Economic Situation Report released on Friday, November 4, 2016.

“The BLS reported that gains primarily occurred in health care, professional business services and the financial activities supersector for the month,” said Jay Rollins, owner of JobsWeb.com, a leading employment website. “This is in line with the number of job openings we’ve seen on JobsWeb.com. These three areas have been trending strongly for the last three months.”

The total nonfarm payroll employment gains made in October is 30,000 less than gains in September (191,000), and a decrease of 45 percent over the 295,0000 employment gains in October 2015. “So far this year, employment gains have averaged 181,000 a month, so October’s slight drop below the monthly average isn’t as significant as October 2015’s increase over the monthly average of 229,000,” said Rollins.  

“Hurricane Matthew may have been a factor in the reduction of work hours along some places on the East Coast,” commented Rollins. “While this doesn’t impact household employment figures, it can impact average weekly hours worked and payroll estimates. Hourly residents in areas with extreme weather may work shortened days due to bad weather, or even overtime hours in its wake.” While the BLS mentions the impact of extreme weather, it notes that effects are difficult to quantify.  

About JobsWeb.com:

JobsWeb.com is the leading employment website for professionals in every industry, including advertising, construction, government and real estate. JobsWeb.com is updated daily with thousands of employment listings. Users can create a profile, upload their resume, apply to positions and engage in our social communities. Employers can post job listings opportunities and browse a resume bank for applicants. Thousands of new jobs are listed each month by geographic location and specialty, including accounting jobs, marketing jobs, creative design, engineering, human resources, manufacturing and project management.

Category: Employment News

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