Equitable Growth’s Jobs Day Graphs: October 2019 Report Edition
The employment-to-population ratio for prime-age workers continued its upward trend from 80.1% in September to 80.3% in October, after a steady increases over the prior months.
Average hourly earnings grew at 3.0% year over year, however there is no evidence that the tight labor market is exerting upward pressure on wages.
The unemployment rate for Black workers continued to decline to 5.4% in October, while the Hispanic workers’ unemployment rate increased slightly to 4.1%, but both still remain significantly higher than the unemployment rate for White workers.
The share of unemployed workers who are re-entering the labor market has been trending downward for 6 months.
Employment growth continues to be dominated by service sector jobs like healthcare, which increased by 34,000 jobs in October, while manufacturing saw a decrease in 36,000 jobs.