October 2020 Job Market Update

The Employment Situation: October 2020

Highlights: 

  • Total Jobs added were 638,000
  • The Unemployment Rate declined to 6.9% (down 1%)
  • The number of unemployed persons fell by 1.5 million to 11.1 million
  • The biggest job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction
  • Employment in transportation and warehousing increased by 63,000 in October, with gains occurring in warehousing and storage (+28,000), transit and ground passenger transportation (+25,000), and truck transportation (+10,000)
  • .Manufacturing employment rose by 38,000 in October but is 621,000 lower than in February. Gains occurred in fabricated metal products (+7,000), primary metals (+6,000), and wood products (+4,000). Employment continued to trend up in food manufacturing (+6,000) and in plastics and rubber products (+4,000).

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Courtesy of The Bureau of Labor Statistics