Insights and Perspectives

Insights and Perspectives

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Read the latest from Geographic Solutions.

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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April’s unexpectedly strong results are the second disruption to the slowing trend we have seen in hiring, since July 2022.

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

The Labor Market Erupts to Start off 2023

Employment in the U.S. rose by 517,000 jobs, the largest gain since July last year.

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Despite employment figures increasing to 223,000 in December, which is 20,000 over The Wall Street Journal's prediction, growth has been gradually weakening since October 2021.

Initial Job Estimates Locked at 260K in Previous Three Months

Despite fluctuations among indicators pointing to a slower pace of job creation, initial estimates over the last three months have been remarkably locked in place with September reporting 263,000 initial new jobs, October reporting 261,000 initial new jobs, and November reporting 263,000 initial new jobs.