Read the latest from Geographic Solutions.
This Veterans Day, we’re excited to share a spotlight profile and interview on CareerSource Palm Beach County’s Vice President and Chief Operating Officer, Steven Gustafson.
In October 2023, the Bureau of Labor Statistics stated that employment in the U.S. slowed to 150,000 additional jobs, while the unemployment rate ticked up to 3.9%.
Geographic Solutions' Economist, Phillip Sprehe, predicts jobs to increase in October by 226,000.
Employment was quite a bit stronger over the last three months than originally estimated. Revisions in July and August added 119,000 more jobs than reported last month.
According to our staff economist, Phillip Sprehe, jobs are predicted to increase by 180,000 in August.
Employment in the U.S. rose by 187,000 jobs, while the unemployment rate fell to 3.5%. The Geographic Solutions forecast matched the 3.5% result and outperformed the WSJ estimate of 3.6%.
A 244,000 jobs increase, as well as a 3.5% unemployment rate, is predicted for July 2023.
The March Labor Market Report shows that job growth has slowed. Although fewer, the representation remained a solid expansion, with an increase in the labor force participation rate.