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The October 2022 Jobs Report

November 7, 2022 by Bautis Financial

The October Jobs Report shows the labor market continues to be red hot!

The October 2022 Jobs Report beat expectations by over 20%. 261,000 jobs were added exceeding the expected 205,000.

While unemployment rose to 3.7%, it is still historically low with nearly two open jobs for every job seeker. Healthcare, professional services and manufacturing led the gains.

To put this growth in perspective, pre-pandemic, the average monthly jobs growth was 164.000.

A hot labor market continues to give the Federal Reserve room to raise interest rates in an effort to combat historically high inflation.

Related: When Will We Hit Peak Inflation?

Category: Finance News, VideosTag: Jobs Report, October 2022 Jobs Report, Unemployment, Unemployment Rates
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