Tuesday, October 07, 2025
Mark Zandi of Moody's concluded that, when averaging estimates from Revelio Labs and ADP, the job market saw "essentially no job growth" in September. Revelio Labs, which tracks data from professional networking sites, estimated an increase of 60,000 jobs, but Zandi considers this an overestimation. The Bureau of Labor Statistics (BLS) had already indicated weakness in August, with non-farm employment adding only 22,000 positions. Job growth was "almost exclusively" seen in California, New York, and Massachusetts, states that rank among the top five in terms of GDP per capita. In 2024, New York had a GDP per capita of $116,320.77, Massachusetts $110,022.74, and California $104,795.45. This geographical concentration highlights the disparity in economic opportunities across the country. |
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