Insights and Perspectives

May marks the exciting milestone of graduation season. Across the country, college students are taking their first steps into the professional world. However, stepping into the dynamic and evolving job market can be challenging without the right information.

While the labor force and unemployment rate remained unchanged, the U.S. economy gained 353,000 jobs in January, far exceeding the expectations of 255,000 jobs from the GSI Labor Market Forecast and 185,000 jobs from the WSJ Survey earlier this week.

As the 2024 new year begins, Geographic Solutions' Economist, Phillip Sprehe, predicts that jobs will increase by 255,000 and the unemployment rate to 3.8% in January.

According to the monthly Current Employment Statistics (CES) report and Current Population Survey (CPS) from The Bureau of Labor Statistics (BLS), employment in the U.S. in December 2023 gained 216,000 additional jobs, while the unemployment rate stayed at 3.7%.

Jobs are predicted to increase in December by 231,000, a slight pick-up from the previous month, even as Geographic Solutions sees slowing job growth over the next six months.

According to the monthly Current Employment Statistics (CES) report and Current Population Survey (CPS) from The Bureau of Labor Statistics (BLS), employment in the U.S. in November 2023 picked up to 199,000 additional jobs, while the unemployment rate declined to 3.7%.

Jobs are predicted to increase in November by 122,000 as we see slowing growth over the next six months.

In October 2023, the Bureau of Labor Statistics stated that employment in the U.S. slowed to 150,000 additional jobs, while the unemployment rate ticked up to 3.9%.

Geographic Solutions' Economist, Phillip Sprehe, predicts jobs to increase in October by 226,000.

Employment was quite a bit stronger over the last three months than originally estimated. Revisions in July and August added 119,000 more jobs than reported last month.