Hiring Continues At Quick Clip As 261,000 Jobs Created in October 2022

The Wall Street Journal reports that despite a record fast rate of interest rate increases by the Federal Reserve along with price inflation and other challenges, employers in October 2022 created 261,000 jobs.

While the rate of job creation was down from the September 2022 rate of 315,000, and a slight uptick in the unemployment rate to 3.7% as a consequence of people reentering the labor market, 261,000 jobs is a positive number and proof that the fear of an employment market overheating is still valid.

Driven by that concern, the Federal Reserve has made clear that there are current expectations to continue the regular and historically fast interest rate increases. We will continue to monitor this story as it develops.

The Association of Western Employers is dedicated to helping employers of all types to create career building job opportunities while helping employees develop those careers because every American deserves the opportunity for a great career.