Sunday, October 06, 2024

23% of the "growth" was government!-This NOT a sign of a healthy economy!-----Employment Situation Summary - 2024 Q03 Results

Employment Situation Summary - 2024 Q03 Results
Total nonfarm payroll employment increased by 254,000 in September, higher than the average monthly gain of 203,000 over the prior 12 months. 
In September, employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction. (See table B-1.)
  • Employment in food services and drinking places rose by 69,000 in September, well above the average monthly gain of 14,000 over the prior 12 months. 
  • Health care added 45,000 jobs in September, below the average monthly gain of 57,000 over the prior 12 months. Over the month, employment rose in home health care services (+13,000), hospitals (+12,000), and nursing and residential care facilities (+9,000). 
  • Employment in government continued its upward trend in September (+31,000). Government had an average monthly gain of 45,000 jobs over the prior 12 months. Over the month, employment continued to trend up in local government (+16,000) and state government (+13,000). 
  • Employment in social assistance increased by 27,000 in September, primarily in individual and family services (+21,000). Over the prior 12 months, social assistance had added an average of 21,000 jobs per month. 
  • Construction employment continued to trend up in September (+25,000), similar to the average monthly gain over the prior 12 months (+19,000). Over the month, nonresidential specialty trade contractors added 17,000 jobs....

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