We know that 271K jobs were added in October; we also know that workers 55 and over got a whopping 378,000 of the jobs (this was the biggest montly gain for this age group since January 2012, a month when total job gains were 380K, the third highest since the crisis), while males aged 25-54 lost 119,000 jobs. But who was hiring in October?
Below is the breakdown of select industries which, according to the BLS, were most active in October hiring. The breakdown:
- Education and Health: +57K
- Professional Services: +54K
- Retail Trade: +44K
- Leisure and Hospitality: +41K
- Temp Help: +25K
And Manufacturing workers: +0
In short, one more month where the bulk of job additions went to the lowest paying jobs, including teachers, waiters, entry level professionals, retail trade, and temp workers, while the US industrial economy continues to stagnate.
And here is the breakdown of waiters vs manufacturing workers since December 2007: the former up 1.5 million; the latter down 1.4 million.