Full-time employment in the U.S. has decreased by 0.7% year-over-year as of October 2024, according to the U.S. Bureau of Labor Statistics. This decline reflects ongoing challenges within the labor market.
The Current Employment Statistics (CES) program, which provides detailed industry estimates of nonfarm employment, hours, and earnings of workers on payrolls, highlights the severity of the situation. Various economic factors, including inflation, uncertainty, and shifts in industry demands, have played a significant role in this decline.
Retail and manufacturing sectors have been particularly hard hit, facing greater impacts than others.
🇺🇸 US full time employees -0.7% YoY.
In #recession territory! pic.twitter.com/ee73k5iNeQ
— Alex Joosten (@joosteninvestor) November 5, 2024
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