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Private education and health services saw a one-month job gain of 100,000, with healthcare and social assistance seeing a gain of 87,100. Leisure and hospitality, construction, and financial activities are some of the other industries that saw job growth. Julia Pollak, chief economist at ZipRecruiter, told Insider Friday's report from BLS showed a slowing labor market but one that's "still very solid." Different data points before Friday's jobs report suggest that the labor market is still a strong jobs market for workers and job seekers. Pollak described the labor market as sustainable, and Bunker described it as robust. So this is still a strong, resilient, robust labor market."
Persons: payrolls, Daniel Zhao, Julia Pollak, Pollak, it's, Nick Bunker, Tuesday's, Bunker, Labor Julie Su, we're Organizations: payrolls, Service, of Labor Statistics, BLS, Friday's BLS, North America, Bureau of Labor Statistics, Labor Locations: Wall, Silicon, Friday's
The pick-up in private hiring shown in the ADP National Employment report on Wednesday was concentrated in the services sector, specifically the leisure and hospitality industry. "A tight labor market and rising wages will complicate things for the Fed and the risk is the labor market could remain tight for quite some time," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. Economists polled by Reuters had forecast an increase of 195,000 private jobs. According to a Reuters survey of economists, private payrolls likely rose by 200,000 jobs last month after rising by 288,000 in September. With no job gains expected in the government sector, overall nonfarm payrolls are also forecast to have increased by 200,000.
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