Where Jobs Are Booming in September 2024 - A Quick Look

The job market had a surprising burst of energy in September 2024. Leisure and hospitality led the way with 78,000 new jobs, while health care and social assistance added another 71,700. If private education was included, that group would have taken the top spot for job growth. Within the hospitality sector, food services and drinking places saw a big jump of 69,000 jobs. That’s way more than the usual monthly increase of around 14,000. The government and construction sectors also did well, adding 31,000 and 25,000 jobs respectively.Professional and business services turned things around after losing jobs in recent months, growing by 17,000 positions. However, not all industries were on the upswing. Manufacturing and transportation and warehousing both lost some jobs, but not more than 10,000 each. An economist from LPL Financial noted that while the job growth was broad-based, there’s a slight concern about people holding multiple jobs. The report suggests that the economy is likely to keep growing faster than expected next quarter, despite this caution flag.