• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

Here’s where the jobs are — in one chart

by
November 5, 2021
in Stock News
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

October’s job creation was strong in almost every sector as hiring across industries as diverse as restaurants and automobile parts manufacturers helped the broader U.S. economy rebound from a late-summer lull.

Related Posts

Judge allows Dominion’s $1.6 billion defamation lawsuit against Fox to go to trial

Trump campaign uses newly restored Facebook page to fundraise off indictment

Millions will start losing Medicaid coverage as Covid safety net is dismantled

Schwab Hit by Worst Month Since 1987 Amid Cash Sorting Woes

Robust hiring at eating and drinking establishments again helped the leisure and hospitality sector lead the month’s employment figures. Employers added nearly 120,000 cooks, waitstaff and other restaurant workers to help push the entire leisure sector up 164,000 for the month.

Employment in the leisure and hospitality sector has risen by 2.4 million thus far in 2021, though it’s still down 1.4 million, or 8.2%, since February 2020.

The wide-ranging professional and business services sector also posted some of the healthiest hiring figures in October 2021. Employers added 100,000 positions in that industry as management and technical consulting firms added nearly 14,000 jobs, scientific research and development added about 6,000 and legal services rose close to 5,000.

The headline numbers from the October jobs report showed the U.S. economy added 531,000 jobs last month, beating the estimate for 450,000. The unemployment rate fell to 4.6%, though many economists attribute the lower figure to fewer workers seeking jobs in the post Covid-19 era.

“Notable increases came from goods-producing industries like construction and manufacturing, a sign that the recovery is permeating industries beyond the work-from-home segments of the economy,” Peter Essele, vice president of investment management and research at Commonwealth, said in an emailed statement.

“Transportation and trade also experienced strong gains, which could help supply-chain bottlenecks ahead of the holiday shopping season,” he added. “All in all, the jobs numbers should be seen as a possible development, particularly as the economy continues to wean itself off fiscal and monetary stimulus.”

As strong as the hiring in the services sector was, the goods-producing side of the U.S. also posted a strong month. Wall Street has kept a close eye on construction and manufacturing industries for any signs of hiring that could ease supply-chain disruptions just before year’s end.

Manufacturers, which added 60,000 jobs last month, got a boost from transportation equipment makers. Companies that produce motor vehicles, motor vehicle bodies and trailers and motor vehicle parts tacked on 27,700 jobs.

The construction industry welcomed 44,000 workers in October, thanks to hiring of nonresidential specialty trade contractors. Heavy and civil engineering construction rose by 12,100.

Transportation and warehousing, a critical component of the U.S. supply chain, added a hearty 54,400 workers. Air transportation increased by 9,200, transit and ground passenger transportation rose by 15,800 and warehousing climbed by 20,200.

The public sector was the biggest laggard on the month as government payrolls declined by a net 73,000. Decreases in state and local education made up the vast majority of those losses, down 21,500 and 43,400, respectively.

— CNBC’s Nate Rattner contributed reporting.

Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now

Next Post

Here's where the jobs are -- in one chart

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

Trump campaign uses newly restored Facebook page to fundraise off indictment

by
March 31, 2023
0

In this article META Follow your favorite stocksCREATE FREE ACCOUNT An advertisement soliciting donations for former U.S. President Donald Trump...

Read more

Trump campaign uses newly restored Facebook page to fundraise off indictment

Judge allows Dominion’s $1.6 billion defamation lawsuit against Fox to go to trial

Millions will start losing Medicaid coverage as Covid safety net is dismantled

Schwab Hit by Worst Month Since 1987 Amid Cash Sorting Woes

The Newest ‘Bubble’ Is in Money-Market Funds

GE Stock Breaks Out To New High After Soaring More Than 45% — Is It A Buy?

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.