Skip to main content

Labor Markets

(PDF PDF icon)

October was characterized by widespread strength in the nation’s labor markets, as nonfarm payrolls gained an unexpectedly high 284,000 workers. The unemployment rate hit a 24-year low (4.7%), although part of the decline came from a 106,000- person reduction in the labor force. Meanwhile, the ratio of employment to population stayed at 63.7%.

Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-11, pp. 12, 11.01.1997.

Upcoming EventsSEE ALL