United States Unemployment October 2021

United States

United States: Labor market conditions improve in October

November 4, 2021

Total non-farm payrolls increased by 531,000 in October, following September’s 312,000 increase in payrolls. Employment gains occurred in leisure and hospitality, in professional and business services, in manufacturing, and in transportation and warehousing.

The unemployment rate ticked down to 4.6% in October from 4.8% in September, and the labor force participation rate was stable at 61.6% in October. Hourly earnings rose 0.4% month-on-month in October (September: +0.6% mom), while annual wage growth accelerated to 4.9% from 4.6%.

FocusEconomics panelists expect the unemployment rate to average 4.2% in 2022, which is unchanged from last month’s forecast, and 3.8% in 2023.

Author:, Economist

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United States Unemployment Chart

United States Unemployment October 2021 0

Note: Month-on-month variation of non-farm payrolls in thousands and unemployment rate, seasonally adjusted in %.
Source: U.S. Bureau of Labor Statistics.

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