The September 2022 Jobs Report saw the unemployment rate decrease from 3.7% in August to 3.5% in September. According to the most recent report released by the Bureau of Labor Statistics (BLS), payroll employment increased by 263,000 and the number of unemployed people is at 5.8 million.
Monthly job growth has averaged 420,000 so far in 2022.
The unemployment rate for college-degreed professionals 25 years and older decreased slightly from 1.9% in August to 1.8% in September. Job seekers with some college or an associate degree remained unchanged from August at 2.9% in September.
Leisure and hospitality and health care saw notable job gains in September.
Jobs added by industry:
- Leisure and Hospitality: 83,000 jobs added
- Health Care: 60,000 jobs added
- Professional and Business Services: 46,000 jobs added
- Manufacturing: 22,000 jobs added
- Construction: 19,000 jobs added
- Wholesale Trade: 11,000 jobs added
Wage growth rose by 10 cents in September 2022.
According to the report, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents or 0.3% to $32.46. Over the past 12 months, average hourly earnings have increased by 5.0%.
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