November brings a stronger reading on U.S. hiring just as businesses are deciding which positions to fill before year-end and what to budget for 2027.
The November 6 Bureau of Labor Statistics report shows that employers added 165,000 nonfarm payroll jobs in October. Upward revisions also added 84,000 jobs to the previously reported August and September gains. Professional and business services led October's increase, followed by health care and transportation and warehousing. Source: BLS Employment Situation
For employers, this is a useful moment to revisit hiring assumptions made earlier in the year. For candidates, the latest figures give a more current starting point for deciding where to focus a search.
Our reading of the November releases is that businesses should review the roles they need to fill, the people they need to retain and the complete cost of a competitive offer. A stronger payroll report supports that review, but does not establish that every occupation or location is experiencing the same improvement.
Data note: This November update uses official releases published through November 6, 2026. The employment report covers October, the latest Job Openings and Labor Turnover Survey covers September, and the Employment Cost Index covers the quarter ending September. Preliminary figures may be revised.
Indicator | Latest reading | Reference period |
|---|---|---|
Nonfarm payroll employment growth | 165,000 additional jobs | October 2026 |
Unemployment rate | 4.1% | October 2026 |
Labor force participation rate | 61.9% | October 2026 |
Job openings | 7.523 million | September 2026 |
Hires during the month | 5.402 million | September 2026 |
Quits rate | 2.1% | September 2026 |
Average private-sector hourly earnings | $38.00 | October 2026 |
Annual civilian wage and salary cost growth | 3.1% | Year ending September 2026 |
Annual civilian benefit cost growth | 3.9% | Year ending September 2026 |
Sources: BLS Employment Situation, BLS September JOLTS, BLS Employment Cost Index.
Monthly employment and turnover figures shown are seasonally adjusted. Annual Employment Cost Index changes are not seasonally adjusted. Payroll growth measures the net change in jobs, openings count unfilled positions at month-end, and hires count additions to payroll during the month.
October's payroll gain exceeded the average monthly increase of 48,000 over the preceding 12 months. The revised figures put August growth at 186,000 and September growth at 60,000. Source: BLS Employment Situation
The revisions matter because they change the picture employers were working with when earlier reports appeared. Recruitment plans built around a single month's preliminary estimate can become outdated before the next budgeting discussion.
Businesses that paused a role should revisit the operational reason for that decision. Has demand changed? Is work being delayed? Are managers or existing employees carrying responsibilities that need a dedicated hire?
Those questions are more useful than assuming a stronger national report automatically justifies extra headcount.
At the same time, the unemployment rate remained broadly stable. October's 4.1% reading compared with 4.2% in September, a movement BLS described as little changed. Participation was 61.9%. Source: BLS household employment data
For planning purposes, this supports a measured response: review the evidence for each vacancy, approve the roles that address a clear business need and be ready to act when suitable candidates emerge.
Professional and business services added 70,000 jobs in October. Health care added 42,000, transportation and warehousing added 25,000, and manufacturing continued to trend upward with a 19,000 increase. Source: BLS Employment Situation
The professional-services result is particularly relevant to employers reviewing corporate, technical and operational teams. It gives them a reason to check current candidate availability rather than rely on a broad assumption that office-based hiring is uniformly weak.
However, these are industry categories, not occupation-level forecasts. A rise in professional and business services employment does not tell us that every marketing, finance, HR or technology role is experiencing the same demand. It also does not establish how AI is affecting any individual occupation.
For a specialist hire, the next step is to examine the actual market: which employers need similar experience, what responsibilities their roles include and what package would make a move worthwhile.
Manufacturing employers should apply the same discipline. The capabilities needed to run production, improve quality or develop new customers can require very different searches, even within one business.
Woods & Co's CPG and manufacturing recruitment team supports commercial, operational, technical and leadership hiring across these sectors.
September's JOLTS release recorded 7.523 million openings and 5.402 million hires. BLS described both as little changed over the month. Source: BLS September JOLTS
That distinction between an open role and a completed hire is useful for businesses with vacancies heading into the final weeks of the year.
If a position has been advertised for some time, identify where the process is slowing:
Few relevant applications: Review the job scope, advertised package and where candidates are being reached.
Strong applicants but no shortlist: Check whether the selection criteria are realistic and consistently applied.
Interviews without a decision: Confirm who owns the decision and which evidence is still missing.
Offers being declined: Review the complete package, role clarity and candidate experience.
Increasing application volume will not resolve every one of these problems. The appropriate response depends on the stage at which suitable candidates are dropping out.
For year-end recruitment, agree on interview availability, compensation approvals and realistic start dates before approaching candidates. A clear timetable helps both sides decide whether a move can work.
Woods & Co's recruitment and advisory services for employers include support with hiring processes, candidate experience and salary benchmarking.
The September release also reported an increase in quits to approximately 3.4 million. The quits rate was little changed at 2.1%, while layoffs and discharges were approximately 1.6 million, with a rate of 1.0%. Source: BLS September JOLTS
Quits are generally employee-initiated departures. They help describe worker movement, but do not show that everyone leaving employment moved immediately into another job.
For employers, our recommendation is to bring retention into the same conversation as new hiring.
Before finalizing next year's recruitment budget, identify where losing an experienced employee would interrupt customer relationships, delivery or team leadership. Ask whether responsibilities have expanded, whether development has stalled and whether the manager knows what the employee wants next.
A useful retention conversation is specific. Discuss workload, progression, support and expectations for the coming year. Follow through on what the business can genuinely offer, rather than making promises to postpone a difficult decision.
For employees considering a move, the same questions can clarify what they are seeking. Better pay may be important, but so may a clearer remit, stronger management or a credible route to greater responsibility.
The latest Employment Cost Index highlights a budgeting detail that can be missed when attention stays on base pay.
Civilian compensation costs increased 3.4% over the year ending September. Wage and salary costs rose 3.1%, while benefit costs increased 3.9%. The index also showed a 0.8% seasonally adjusted increase in total compensation costs over the quarter. Source: BLS Employment Cost Index
Benefits growing faster than wages in this measure is a reason to examine the full cost of a role when preparing 2027 budgets. A salary-only assumption can leave an incomplete picture of the resources required.
For an individual hire, review base salary, variable compensation, health benefits, retirement contributions and paid leave. Be clear about which elements are guaranteed and which depend on performance or eligibility.
The latest payroll earnings data provides another reference point: average hourly earnings for private nonfarm employees reached $38.00 in October, compared with $36.85 a year earlier, an increase of approximately 3.1%. Source: BLS earnings data
These economy-wide averages are not salary recommendations for an individual position. Experience, location, scope, working arrangements and the availability of suitable candidates all need to be considered.
For candidates, compare offers on the same basis. A higher base salary may come with different benefit costs, bonus conditions or commuting requirements. Ask for the details needed to assess the complete offer.
The October report also showed 4.8 million people working part time for economic reasons, an increase of 339,000. These workers wanted full-time employment but had reduced hours or could not find full-time work. Source: BLS Employment Situation
For employers, this makes clarity about hours especially important. Advertisements and interviews should explain the expected schedule, whether hours vary and whether a role is temporary, contract or permanent.
For candidates, the practical value of an offer depends partly on how much work it provides. Ask about guaranteed hours, scheduling notice and the likelihood of additional work before making a decision.
These details are particularly useful when comparing opportunities with different employment arrangements. They also help prevent a mismatch between the role advertised and the experience of joining.
For a business preparing its next hiring decision, the strongest use of the new releases is to test existing assumptions.
Review paused and hard-to-fill roles. Confirm which business problem each position solves. Where a vacancy has stalled, diagnose the cause before repeating the same search.
Benchmark the complete offer. Assess current role-specific pay and benefits, and make sure the approved budget reflects the experience required.
Set a workable year-end process. Confirm decision makers, interview dates and offer approvals. Communicate realistic start-date expectations.
Protect the team you already have. Review retention risks alongside new headcount. Recruiting additional employees will have less impact if key knowledge leaves at the same time.
For professionals considering their next role, the November releases support a focused search rather than a prediction that every application will become easier.
Start with employers whose needs match your experience. Explain the outcomes you have delivered, the scale of your responsibilities and how that experience applies to the advertised position.
Look closely at the brief. Two roles with the same title may offer different authority, support and progression. Ask what success looks like in the first six months and why the employer is hiring now.
Finally, compare the full package and the working arrangements. Be explicit about your priorities so that discussions can focus on opportunities that genuinely fit.
Explore current U.S. job opportunities or learn how Woods & Co supports job seekers across the United States.
The next releases will help test whether October's stronger payroll result is sustained.
December 1, 2026: BLS schedules October job openings and labor turnover data for 10:00 a.m. Eastern Time.
December 4, 2026: BLS schedules the November Employment Situation report for 8:30 a.m. Eastern Time.
Sources: BLS JOLTS release schedule and BLS Employment Situation release schedule.
Until then, employers can act on the information already available: reassess priority vacancies, check the competitiveness of offers and have retention conversations before plans are finalized.
For job seekers, the immediate opportunity is to approach the market with a clear account of what they can contribute and what they want from a move.
If you are planning a hire or your next career step, contact Woods & Co to discuss your priorities.
The latest report available in early November shows a stronger October payroll gain and upward revisions to the preceding two months. This is an encouraging signal, but further releases are needed to establish whether the improvement will continue. Source: BLS Employment Situation
The latest rate is 4.1%, based on October 2026 data published November 6. It is an October observation, not a measured unemployment rate for November. Source: BLS household employment data
Include the full cost of compensation, not just base salary. The latest Employment Cost Index shows that civilian benefit costs grew 3.9% over the year ending September, compared with 3.1% for wages and salaries. Individual budgets still require role-specific assessment. Source: BLS Employment Cost Index
No. Job openings count unfilled positions at month-end, while hires count additions to payroll during the month. Neither is the same as net payroll employment growth. Source: BLS September JOLTS
BLS schedules the November Employment Situation report for December 4, 2026, at 8:30 a.m. Eastern Time. Source: BLS Employment Situation