The November jobs report brought attention to the revisions made to the October employment data, aiming to provide a clearer view of the labor market. Initially, the Department of Labor had reported that employers added only 12,000 workers in October, citing factors such as hurricanes and labor strikes. However, economists anticipated that as more data became available, the revised numbers would reflect a stronger hiring trend.
The latest estimates confirm this belief, showing a slight improvement in the October hiring figures. The Department of Labor's updated report revealed that US employers actually hired 36,000 new workers in October, a positive revision of 24,000 jobs from the original estimate.
Looking back at September, the revised data paints an even more optimistic picture. Employers were found to have added 255,000 new workers in September, surpassing the previous estimate of 223,000 jobs. This upward adjustment indicates a healthier job market than previously thought, suggesting a more robust hiring trend during that period.
Overall, the revisions to the October and September employment data provide a more positive outlook on the labor market, showcasing stronger hiring numbers than initially reported. While the improvements are modest, they signal a continued resilience in the US job market despite challenges such as natural disasters and labor disruptions.
