Key Takeaways:

  • The labor market is adding more jobs than expected.
  • The unemployment rate has stayed consistent. 
  • The fed is hoping for the labor market to cool for the benefit of our economy.

The air is cooling and the leaves are falling, but the labor market is doing anything but. Once again the September labor market report has proved that the number of available jobs is continuing to climb and is hotter than ever.  

According to the U.S. Labor Department’s job report for September 2023, employers added 336,000 jobs and the unemployment rate remains at 3.8%. This marks the 33rd month for job growth in the U.S. since 2020. The Fed is still hoping the market will slow to help with the economy, but it continues to still take economists, the Fed, and the public by surprise month after month. 

Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the October pre-job report.