Market Insight November 2021

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November 4, 2021 No comments

The U.S. Economy Added 531,000 Jobs In October

This is a sharp rebound from the prior month and a sign that employers are feeling more optimistic as the latest coronavirus surge eases.

Economists polled by Bloomberg had been looking for a gain of 450,000 jobs.The unemployment rate declined to 4.6%, from 4.8%.

The October gain was an improvement from the 312,000 positions added in September — a number that was revised upward on November 5.

Hiring has seesawed this year along with the pandemic, especially in vulnerable sectors like hospitality and retail, where workers must deal face to face with customers. White-collar employees have fared better, since many can work remotely.

Source: NYTimes, 11.05.2021

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