Road to Recovery? Job Growth Improves in October for Both Women and Men

With all the talk about businesses laying off workers after the re-election of Barack Obama, there’s some good news to report.

According to Institute for Women’s Policy Research (IWPR) analysis of the October employment report from the U.S. Bureau of Labor Statistics (BLS), job growth improved in October with women gaining 53 percent of jobs added to nonfarm payrolls. Job growth was strong for both women (91,000 jobs) and men (80,000 jobs) for a total of 171,000 jobs added.
Women’s employment growth was aided by strong growth in education and health services (23,000 jobs added for women), retail trade (22,000 jobs added for women), and leisure and hospitality (18,000 jobs added for women). While government employment declined by 13,000 jobs overall in October, women gained 12,000 government jobs.
The latest data increased the number of jobs on payrolls by 50,000 for August (from 142,000 to 192,000) and 34, 000 for September (from 114,000 to 148,000). Since January 2012 an average of 157,000 jobs have been added each month, 45 percent of which went to women.
Both men and women now have a higher number of jobs than they did in February 2009, the time of the first jobs report after President Barack Obama took office. Men have experienced net growth of 862,000 jobs as of October 2012. Women, whose job peak and job trough occurred later than men’s peak and trough, are 56,000 jobs above their February 2009 jobs number. In the past year, women’s job growth has accelerated and women have now regained almost as large a share of their lost jobs as have men.

So, BB&W, do you think this tenuous recovery will hold?