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LifeWork Search Newsletter - October 2017

 

 

October 2017 Newsletter 
Employment Situation Recap for Q3 2017
 

In this month's Newsletter, we have gathered information from the Bureau of Labor Statistics and our monthly Employment Situation Reports to take a look at what Q3 looked like for unemployment. 

In Q3, the unemployment rate averaged 4.3%, which is 0.6 percentage points lower than last year's Q3, which averaged 4.9%. Along with a great quarterly average, September held the lowest unemployment rate since February of 2001! September's rate dropped to 4.2%, leaving September with the new lowest unemployment rate we've seen in 16 years!

In July's Newsletter (Employment Situation Recap for Q2), Elise Gould predicted that the unemployment rate could easily get below 4.5% for the year. So far, Elise's prediction has proven to be correct. T
he unemployment rate for the year (Q1-Q3) has averaged 4.4%. This is 0.5 percentage points lower than last year's Q1-Q3 average, which was 4.9%.

The seasonally adjusted unemployment rate for the population 25 years and older who hold at least a bachelor's degree averaged 2.4% for the quarter. Those who have some college or associate's degree averaged 3.7%, highschool graduates with no college averaged 4.6%, and those with less than a highschool diploma averaged 6.5% for the quarter. 

There were a total of 332,000 jobs added to the US economy throughout the quarter, and an average of 111,000 jobs added per month- which includes the 33,000 lost positions in September due to Hurricanes Irma and Harvey. Over the past year, the country has added an average of 172,00 jobs per month. 

With the unemployment rate being so low and so many people already employed, employers are having a hard time finiding people to fill their current openings. Employers need people to fill specialized positions. No matter what field you're in, you're needed.

 

 

 

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Special Announcement 

 We are proud to announce we are this year's recipient of the 2017 Excellence in Business Forecasting & Planning from the Institute of Business Forecasting!

 



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