The U.S. labor market is still strong by any measure
The economy was supposed to get a lot weaker, and hiring was supposed to slow to a crawl. Neither has happened. The U.S. is still adding lots of jobs.The forecast The U.S is expected to add 170,000 jobs in October after a surprisingly large 336,000 increase in the prior month, according to economists polled by the Wall Street Journal.
The response rate by businesses to the government’s employment survey has also been unusually low since the pandemic, making the results of the report more volatile. What’s more, the government’s seasonal adjustments don’t always inflate the job numbers. Late in the year, they tend to deflate the employment figures.
Unemployment rate The percentage of jobless Americans seeking work is forecast to stay the same at 3.8%, leaving it near the lowest level in decades.
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