The October jobs report, out Friday, looks rosy for a number of sectors. The U.S. economy added 165,000 new jobs last month, while unemployment ticked slightly down to 4.1%.
It’s another sign that strength in the U.S. economy is broadening, said Yelena Shulyatyeva, senior U.S. economist at The Conference Board.
“If you look at the labor market, you see strength in both goods and services producing sectors,” she said.
Manufacturing employment increased, for example. Healthcare is another growing sector, said Andrew Flowers, chief economist at recruitment technology firm Appcast. He said that’s no surprise.
"[Healthcare] has been a stalwart industry for job growth,” he said. “The other is the kind of standing up, hard hat industries of transportation. All these industries that I would say related to the AI data center build out those add jobs as well.”
Still, there were some surprises in the jobs report. |