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Here's where the jobs are for September 2024 — in one chart

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September Jobs Report Shows Strong, Broad-Based Growth #

The September jobs report revealed surprisingly strong growth, with contributions coming from various sectors of the economy.

Key Growth Areas #

  • Leisure and Hospitality: Added 78,000 new positions

    • Food services and drinking places saw a significant increase of 69,000 jobs, notably higher than recent monthly averages
  • Health Care and Social Assistance: Contributed 71,700 new jobs

    • When combined with private education, this category potentially becomes the largest growth area for the month
  • Government: Added 31,000 jobs

  • Construction: Increased by 25,000 jobs

  • Professional and Business Services: Grew by 17,000 jobs, marking a positive shift from recent job losses in this sector

Broad-Based Growth and Multiple Job Holders #

The report indicates fairly broad-based job growth across various sectors. However, it’s worth noting that the percentage of workers holding multiple jobs rose to 5.3%.

Areas of Job Loss #

Two sectors experienced minor job losses:

  • Manufacturing
  • Transportation and Warehousing

Both categories saw decreases of fewer than 10,000 jobs each.

Economic Implications #

The strong job report suggests that the economy may continue to grow above trend in the upcoming quarter. However, the rise in multiple job holders is seen as a potential caution flag in an otherwise positive report.