Equitable Growth’s Jobs Day Graphs: October 2019 Report Edition

On November 1st, the U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of October. Below are five graphs compiled by Equitable Growth staff highlighting important trends in the data.

1.

The employment-to-population ratio for prime-age workers continued its upward trend from 80.1% in September to 80.3% in October, after a steady increases over the prior months.

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2.

Average hourly earnings grew at 3.0% year over year, however there is no evidence that the tight labor market is exerting upward pressure on wages.

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3.

The unemployment rate for Black workers continued to decline to 5.4% in October, while the Hispanic workers’ unemployment rate increased slightly to 4.1%, but both still remain significantly higher than the unemployment rate for White workers.

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4.

The share of unemployed workers who are re-entering the labor market has been trending downward for 6 months.

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5.

Employment growth continues to be dominated by service sector jobs like healthcare, which increased by 34,000 jobs in October, while manufacturing saw a decrease in 36,000 jobs.

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