and developers are anxious about finding the financing they need to bring projects to market, which should impact construction hiring. And business leader confidence is solidly pessimistic.
“This long, strange trip has successfully moved past the election but faces international turmoil, labor shortages, and high inflation. Inflation appears to have peaked in some areas; however, prices will be at an elevated level longer than desired and will push the economy into a shallow recession in 2023,” Horvath said in an email.
Steven Byers, a senior economist with the Common Sense Institute in Denver, describes the divergence as paradoxical. Hiring wasn’t tepid, so why did more people say they were unemployed? “This may have an explanation such as people holding down more than one job or this will be corrected as the numbers are revised,” he said in an analysis of Friday’s report. One reason people may be taking on second jobs is to cope withHiring estimates for September were also revised higher by 600, bringing the total for the month to 5,600. Over the past three months, employers report adding 38,000 nonfarm jobs, nearly triple the number they added from May to July, Gedney said.
Over the month, professional and business services added 5,900 jobs; construction added 2,600; and trade, transportation and utilities added 2,000 workers on a seasonally adjusted basis. Gains in educational and health services, manufacturing and other services ranged from 1,100 to 1,400. No industries had significant month-over-month declines,
So companies are saying they are hiring and not actually hiring
excellent
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