Insights and Perspectives

Insights and Perspectives

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Read the latest from Geographic Solutions.

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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%.

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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.

Job Growth Softens over the Summer

Employment noticeably softened during the summer, averaging only 150,000 new jobs per month from June through August after averaging 238,000 from March to May of this year.

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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%.

Labor Market Report Shows Continuity in June

Job creation was strongest in the Education & Health Services and Government sectors.

May 2023 Labor Market Report and Commentary

Employment in the U.S. rose by 339,000 jobs. May’s unexpectedly strong results are compounded by the upward revisions in March and April that totaled 93,000 more jobs than reported last month.

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Geographic Solutions’ data is signaling further softening in the number of new jobs in April.

March 2023 - Monthly GSI Labor Market Report

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.

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Geographic Solutions’ data is signaling another strong month in the number of new jobs in March.

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Although the gains were smaller than the surprising 504,000 new jobs in January, the performance in February was still strong.