Employment Research Brief: November 2023

UAW Strike Restrains October Job Creation, Industrial Sector Feels the Impact

Unemployment inches up in October amid modest job creation. The tight labor market loosened slightly in October as 150,000 positions were created, the second-slowest month for hiring since the end of 2020. Additions were greatest in the health care and public sectors, with the onboarding of 58,000 and 51,000 personnel on net, respectively. Government job creation was largely in local education roles. Owing to limited gains, the unemployment rate ticked up last month, reaching 3.9 percent, the highest level since January 2022. A net loss in manufacturing positions contributed to this rise as the sector’s total employment fell by 35,000 roles on net in October.