US added 250,000 jobs in October; Unemployment at 3.7%

Many of these workers will join the workforce – some have reached retirement age, others have lost their skills and some are too disabled to work. Economists had a lively debate about how many people could be attracted to the job market. The relatively slow pace of wage growth could be evidence that there are still marginalized people who would be willing to accept a job if it seemed worthwhile.

So far this year, the labor force has increased by about 70,000 people per month, which is well below the average number of hirings. The help does not come from abroad: the number of immigrant visas issued by the government has been declining for two years.

Employers say that they are looking for workers. "I'm probably talking to a thousand businessmen a month," said Rick Lazio, a former Republican congressman and currently senior vice president of Alliantgroup, a credit counseling firm. # 39; s tax. Medium-sized manufacturers refuse a lot of business, he said, "because they can not find people and they can not get the equipment fast enough."

Analysts have warned that the hurricanes that hit southeastern this fall could skew underlying trends in the labor market. Hurricane Florence contributed to the slow growth of the payroll in September. 1.7 million people were affected by this storm and nearly 39,000 jobs were lost in North Carolina and South Carolina In October, Hurricane Michael made landfall in Florida. In this state and in Georgia, unemployment claims increased by 10,000. October numbers will be revised up or down twice, and those of September again.

Seasonal rental

Concerns over fierce competition for vacation rentals have led employers to be more aggressive, offering bids earlier than usual and increasing wages, the recruiters said. Challenger, Gray & Christmas, a global company specializing in outplacement and executive coaching, which follows the hiring announcements, announced that companies were looking to recruit 700,000 seasonal workers, the highest number since 2014.

The Bureau of Labor Statistics regularly adjusts employment figures to account for seasonal changes, but again, unusual changes may not be fully captured and may artificially inflate (or deflate) monthly totals.

United Parcel Service has announced plans to hire 100,000 people for the holidays. Several candidates for packing or delivery positions who showed up at the company's Manhattan client center during a recent nationwide recruiting campaign expressed hope that temporary positions would become permanent jobs. A spokesman for the company said the seasonal jobs were paying between $ 10.35 and $ 30 an hour, depending on the location.