The Jobs Report – October 2021

What you need to know:

1. The prior two month’s job reports were revised up for an additional 235k total jobs, a sizeable increase.
2. Private sector jobs increased by 604k with the government losing 73k jobs.
3. Job increases were broad-based. The goods-producing sector of the economy added 108k jobs, while the private service-producing sector added 496k jobs.
4. The number of people who teleworked because of the pandemic fell to 11.6% from 13.2% in September as the economy continues to reopen.
5. The jobs report with upward revisions and widespread job gains is further evidence of the economic recovery from the pandemic. We expect this to continue into 2022.