The September 2024 Jobs Report & August 2024 JOLTS: The Current U.S. Employment Situation

The September 2024 U.S. job numbers are looking up: Per the BLS Employment Situation Summary, released today, total nonfarm payroll employment increased by 254,000, the unemployed rate decreased to 4.1%, and the number of unemployed persons dipped to 6.8 million compared to last month. Economists expected payrolls to increase by 140,000 and the unemployment rate to remain at 4.2%.

The latest JOLTS report showed that job openings increased to 8 million on the last business day of August, outperforming July’s upwardly revised number of job openings (7.7 million) and economists’ expectations of 7.682 million. Other key benchmarks all decreased month over month: hires (5.3 million), separations (5 million), quits (3.1 million), and layoffs and discharges (1.6 million).

Here are more takeaways from the September 2024 jobs report and August 2024 JOLTS:

• Job openings notably increased in construction by 138,000 and government by 103,000.
• The “Big Stay” continues: The quits rate dropped to 1.9%, the lowest we’ve seen since June 2020.
• Average hourly earnings increased by 0.4% to $35.36.

Top industries hiring now include food services and drinking places (+69,000), healthcare (+45,000), government (+31,000), social assistance (+27,000), and construction (+25,000).

As Talmon Joseph Smith of The New York Times stated, “Despite all the hand-wringing, the U.S. labor market remains impressively strong.” Ready to get in on the action? Connect with top talent or search our database of verified and curated jobs in your industry today!