As temperatures begin to drop outside, hiring, too, has turned cold. A sharp drop from September’s revised gain of 223,000, employment expanded by only 12,000 in October, according to the latest U.S. Bureau of Labor Statistics (BLS) jobs report — the lowest monthly gain since December 2020. Unemployment was essentially unchanged as well, holding at a rate of 4.1%.
But don’t be spooked by these scary-low job numbers — storms and strikes complicated this month’s BLS jobs report quite a bit. “Given the significant impact of hurricanes and the Boeing strike on October’s job numbers, it’s reasonable to expect some rebound in November,” says Monster Economist Giacomo Santangelo. “Historically, temporary disruptions like natural disasters and strikes tend to have a short-term impact on employment figures. Once these events pass, affected industries often see a recovery as businesses resume normal operations and hiring picks up to compensate for the lost time.”
Looking ahead, Monster data indicates that hiring may, indeed, pick up with the number of active job postings increasing 11% over the past month. Below, we shared our breakdown of these job numbers along with key takeaways to help employers plan for the months ahead.
Hurricanes Ravage Job Market
Hurricanes Helene and Milton significantly disrupted the job market in October when the BLS conducted its survey, contributing to the lowest job numbers on record in nearly four years. Largely affecting the southeast region of the United States, the severe damage caused by the hurricanes led to a sharp decline in hiring with many businesses halting operations and delaying hiring, particularly those most affected, such as construction, retail, and hospitality.
“Looking ahead,” Santangelo says, “the hurricane damage is likely to continue impacting job numbers in November. While some sectors may see a rebound as recovery efforts ramp up, others might still struggle with the aftermath, including ongoing repairs and supply chain disruptions. The overall job market could remain volatile with uneven recovery across different regions and industries.”
Boeing Strike Leads to Losses in Manufacturing
A strike of about 33,000 Boeing workers was another reason why October’s job numbers were so low. According to the BLS monthly jobs report, manufacturing employment was down 46,000 in October, primarily due to the striking workers as well as others who have been temporarily laid off as a result.
Santangelo says this strike highlights ongoing labor disputes and the struggle for better wages and working conditions, which is common across many manufacturing sectors, and has significant implications for both the manufacturing and aerospace industries. “The immediate effect is the halt in production, which delays delivery of aircraft and disrupts the supply chain,” he says. “This can lead to financial losses not only for Boeing but also for its suppliers and partners who rely on the company’s production schedules.” These include businesses involved in the production of aircraft components, maintenance services, and logistics.
Looking onward, Monster data shows that hiring may pick up heading into November, but whether that will be reflected in the next BLS monthly jobs report may depend on the resolution of the Boeing strike. Nevertheless, over the past month, the number of active manufacturing job postings increased 5% on Monster with employers hiring for top jobs, including:
- First line supervisors of production and operating workers
- Inspectors, testers, sorters
- Machinists
The Enduring Decline of Temporary Jobs
In addition to manufacturing, losses were also suffered in temporary help services. According to the BLS monthly jobs report, the sub-sector shed 49,000 payrolls in October, which Santangelo attributes to the compounded effects of hurricanes Helene and Milton as well as the continuing Boeing strike.
Keep in mind, though, that October’s losses in temporary help services aren’t confined to the month alone, as employment has been steadily declining for some time. Since reaching its peak in March 2022, employment in temporary help services has decreased by 577,000. “Initially, the pandemic recovery led to a surge in temporary hiring as businesses quickly ramped up operations to meet rebounding demand,” Santangelo says. “However, as the economy stabilized, many companies converted temporary positions to permanent roles to retain talent as the labor market tightened. Also, high interest rates have reduced private-equity funding for projects that typically rely on temporary workers.”
Healthcare Provides Stability Amid Economic Uncertainty
Storms and strikes aside, the BLS monthly jobs report wasn’t all doom and gloom. Healthcare, a mainstay sector in the BLS monthly jobs report, can still be counted on when it comes to job creation, even amid economic uncertainty. On par with its usual pace, healthcare added a solid 52,000 payrolls in October, primarily in ambulatory health care services and nursing and residential care facilities.
Likewise, on Monster, the number of active healthcare job postings continues to grow month-over-month, increasing 4% in October. Jobs for registered nurses remain #1 overall on site, while other top healthcare positions hiring include:
- Physical therapists (#4 overall)
- Licensed practical and licensed vocational nurses (#5 overall)
- Critical care nurses (#6 overall)
- Medical and health services managers (#8 overall)
While an aging Baby Boomer population and the persistent need for medical care continue to drive demand for employment within the sector, the sector’s ability to meet demand is an area where healthcare has shown solid performance month after month. Santangelo says some of the main reasons why the healthcare industry is able to attract such a solid number of candidates each month is through a combination of competitive compensation, opportunities for career growth, and a strong sense of purpose. Additionally, he says, healthcare organizations often offer attractive benefits packages, including student loan repayment and bonuses, which can be particularly appealing given the high cost of education. When it comes to where healthcare candidates are focusing their efforts, Monster data shows top job searches include those for:
- Medical assistant
- Registered nurse
- Phlebotomist
Employers May Shift Compensation Strategies
As inflation eases, wage growth may not be far behind. While pay increases remained strong in October — average hourly earnings are up 4% over the past 12 months — growth has been steadily declining since reaching its peak in March 2022. Santangelo says, as inflation, now at 2.4%, approaches the target 2% mark, wages might experience more moderate growth in the coming months.
“Employers, planning their 2025 hiring and retention strategies, will likely focus on balancing cost control with the need to remain competitive in attracting talent,” he says. “With inflation stabilizing, companies might shift towards more performance-based and merit increases rather than broad inflation-driven adjustments. This approach helps manage payroll expenses while still rewarding high-performing employees and addressing critical skill shortages.”
Stay Tuned for the Next Monthly Jobs Report
Monster aims to provide employers with the insight needed to move forward. As you plan your hiring strategy over the next month, check out Monster’s Work Watch report for the latest hiring trends and insights.
We’ll see you here again in December when we will release our next take on the monthly jobs report.