October 2023 Employment Report

In October, nonfarm payrolls rose by 150,000, meeting industry expectations. The U.S. has now added jobs for 34 consecutive months. Unemployment changed little at 3.9% in October, which is historically low. Of those who are unemployed, 34.5% have been unemployed for less than 5 weeks. Since 1948, the unemployment rate has averaged 5.7%.

Average nonfarm hourly wages in October 2023 were $34.00, an increase of 4% from October 2022. Within the Trade, Transportation, and Utilities subcategory, average hourly wages in October were $29.26, up 4.1% year-over-year.

Additional employment and wage data are available from the Bureau of Labor Statistics. Both NPGA and PERC have a variety of workforce tools to make attracting and retaining employees easier. Additional tools and resources for members can be accessed on the Workforce section of NPGA’s website. One such tool marketers can use to assist in recruiting is the NPGA Registered Apprenticeship Program.

For more information, contact NPGA’s Senior Manager of State Association Relations, Eric Sears.