Unemployment Rate
4.1%
The unemployment rate was unchanged and total nonfarm payroll employment was essentially unchanged at +12,000 jobs in October. Healthcare and government employment continued its upward trend, and jobs in temporary help services decreased. Manufacturing also saw declines due to strike activity. The labor force participation rate changed little at 62.6%. Average hourly earnings rose by 13 cents (0.4%) to $35.46. The average workweek for all employees remained at 34.3 hours.
According to the American Staffing Association, temporary help employment was 1.64% of total nonfarm employment in October.
Major Industry Employment
Notable Gains and Losses
- Healthcare and Social Assistance: +51,300
- Government: +40,000
- Construction: +8,000
- Transportation and Warehousing: -3,700
- Leisure and Hospitality: -4,000
- Manufacturing: -46,000
Read the full report at BLS.gov
Workforce and Economic News
40% of HR Professionals Say Their Companies Lack AI Policies
Benefits Pro — November 9, 2024
A new survey shows AI usage is nearly universal, but only 60% of HR professionals said their company has an AI Acceptable Use Policy. Half of respondents said HR is primarily responsible for developing AI policies and communicating acceptable use, and 63% are worried about data privacy.
Americans Want Job Ads to List Salary
Newsweek — November 11, 2024
Eighty-six percent of Americans think a job ad should include the role’s salary. Millennials were most in favor of this with 89% in agreement, followed by baby boomers at 85%. Overall, 62% of people would still apply if the salary isn’t listed, but 26% of Gen Z wouldn’t apply without knowing the pay in advance.
How Employers Can Support Gen Z’s Transition to The Workplace
Forbes — November 10, 2024
Gen Z brings undeniable strengths to the workforce like digital fluency, adaptability, and a desire to make meaningful connections, despite the COVID pandemic disrupting their education and early career development. This gives employers an opportunity to offer support to bridge these gaps while tapping into Gen Z’s strengths.
America Employed
Insights from Express Employment International
The Price of Silence: 40 Percent of Job Seekers Avoid Companies Without Clear Stances on Key Issues
ExpressPros.com — October 23, 2024
Sixty-five percent of job seekers believe companies should speak out on key issues with half saying it’s important their current or future employers take a clear stance on topics that are important to them. And if job seekers disagree with the company’s position, 49% are ready to quit. This is according to a recent Express Employment Professionals-Harris Poll survey.
The top concerns job seekers want companies to address publicly are diversity, equity, inclusion, and belonging (DEIB) (37%), racism (35%), environmental issues (30%), and sexism (30%).
41% of U.S. Job Seekers Juggle Side Hustles on Company Time, While Half of Employers Lack Policies to Prevent It
ExpressPros.com — October 9, 2024
Nearly 90% of U.S. job seekers say they’ve worked a side hustle with 41% admitting to double dipping on the clock either part-time (24%) or full-time (20%). While employers are concerned about workers’ divided attention, 50% say their company has no code of conduct or policies prohibiting working more than one job on company time. This is according to a recent Express Employment Professionals-Harris Poll.
More than half of hiring managers (55%) have discovered employees working side hustles during company time, raising concerns about lower productivity (50%), decreased focus and attention to detail (47%), and reduced engagement (37%).
