How strong is the job market?
Jobs drive spending, and spending drives company sales. A job market that stays strong keeps the economy growing but can keep inflation and interest rates up; one that cracks is usually the clearest sign a recession is starting.
Updated Oct 3, 2026
Steady
The job market reads steady at 49. Employers added 51 thousand jobs a month over the past three months, unemployment is 4.2% (−0.2 points on a year ago), and new jobless claims average 198 thousand a week. Health and education added the most jobs over the past year; government lost the most.
Over time
First, the jobs each industry added over the past year. Select a tile or any indicator below for its history; Score compares it with its last ten years.
Thirteen labor indicators
Each scored against its own last ten years, where 100 is the strongest. Unemployment, claims and layoffs count as stronger when lower. Select a column to sort.
| Indicator | Reading | Latest | A year ago | Past 3 years |
|---|---|---|---|---|
Hiring Jobs added a month, three-month average | 13Soft | +51K a month | +23K a month | |
Unemployment rate Share of the labor force out of work | 37Soft | 4.2% | 4.4% | |
Jobless claims New claims a week, four-week average | 99Strong | 198K a week | 234K a week | |
Continuing claims People still claiming benefits | 75Strong | 1.72 million | 1.92 million | |
Job openings Positions employers are trying to fill | 37Soft | 7.1 million | 6.9 million | |
Openings per jobseeker Job openings per unemployed person | 36Soft | 1.01 | 0.94 | |
Quits Workers leaving jobs each month, a sign of confidence | 10Soft | 1.9% a month | 2.0% a month | |
Layoffs Workers laid off or fired each month | 69Strong | 1.0% a month | 1.2% a month | |
Prime-age employment Share of 25-to-54-year-olds with a job | 90Strong | 80.7% | 80.7% | |
Wage growth Average hourly pay, change over a year | 22Soft | 3.0% over a year | 3.8% over a year | |
Pay after inflation Wage growth minus consumer price inflation | 20Soft | −0.6% over a year | +1.0% over a year | |
Weekly hours Average hours worked, private sector | 62Strong | 34.4 hours | 34.2 hours | |
Temporary jobs Temp help jobs, change over a year; often cut first | 65Strong | +0.6% over a year | −3.6% over a year |
How to read this page
How it’s measured. Thirteen labor indicators from the Bureau of Labor Statistics and the Labor Department via FRED, each scored against its own last ten years, with unemployment, jobless claims and layoffs turned around so lower reads as stronger. The overall reading averages them.
Sources. Economic data from FRED, the Federal Reserve Bank of St. Louis.
Payroll figures are revised in the months after release, and the yearly benchmark revision can move them by hundreds of thousands. Weekly claims are the most timely gauge.
Quits and temporary jobs tend to turn before the rest: workers quit less when they sense fewer openings, and employers cut temps before permanent staff.
This page is information, not investment advice. About our data and methods ›