The Zhitong Finance App noticed that a category that received little attention in Friday's blockbuster employment report is challenging mainstream opinions about AI causing unemployment. At least for now, the data shows that the US is adding new jobs rather than losing jobs due to the AI boom.
Another classification suggests that strong employment data may have some continuity.
According to a report released by the US Bureau of Labor Statistics on Friday, the number of non-farm payrolls increased by 165,000 in October. This unexpected surge in recruitment far exceeded Wall Street expectations — economists surveyed by Dow Jones had expected only 59,000 new jobs in the month.
Here are three surprising things investors may have overlooked in this report.
consulting business
Recruitment in the consulting industry surged during the month, driving the total number of people employed in this profession to a record high.
From September to October, the workforce of management, science and technology consultants increased by 17,300 jobs, the biggest month-on-month increase in the past two years. This classification is a subcategory of the professional and commercial services sector tracked by the Bureau of Labor Statistics, and contributed 25% of the department's total increase in the month.
More importantly, the workforce has added more than 45,000 jobs in the past year. According to Bureau of Labor Statistics, this increase brought the total number of such workers above 1.9 million for the first time, a record high.
After years of rapid expansion during the pandemic, recruitment in the consulting industry has largely stagnated since 2023. Wall Street has been questioning whether the rise of AI will curb demand for such services.
These concerns have caused consulting firm Gartner (IT.US) shares to evaporate by more than half in the past three years. Accenture (ACN.US) and FTI Consulting (FCN.US) declined by about 18% and 9%, respectively, during the same period, while the S&P 500 index rose by about 74% over the same period.
Today, some economists speculate that the recent jump in recruitment may be driven by companies hiring consultants to help them adopt AI. Gartner predicted in September that global AI spending will reach 2.7 trillion US dollars in 2026, a year-on-year increase of nearly 50%.
Jeffrey Roach, chief economist at LPL Financial, said, “The construction of AI and the need for companies to improve utilization rates will keep technical advisors employed.”
Roach called the consulting industry a highlight worth “close attention” in October. He pointed out that these jobs also achieved double-digit growth in the late 1990s, when companies were scrambling to introduce new Internet technology into their business.
So far, data suggests that AI has added more jobs to the labor market than it has replaced through automation. An evaluation by Moody's Analytics found that since ChatGPT was launched in November 2022, AI has created a net of 786,000 jobs, partly due to the construction of data centers.
Moody's chief economist Mark Zandy wrote on social media on Monday, “Isn't AI supposed to destroy jobs? The most pessimistic predictions even predict large-scale unemployment.” “This risk has not disappeared, and AI-driven productivity increases may still shift gears and accelerate. But for now, AI is increasing employment growth rather than reducing employment growth.”
temporary employee
The recruitment of temporary workers is also driving growth, which may indicate that the labor market is heating up.
The number of wage earners in this subcategory increased by 18,600 in October, one of the biggest month-on-month increases since 2022. This classification is also part of the Professional and Business Services sector, contributing 27% of the sector's monthly increase.
The total size of this workforce is still far below the historic peak set in 2022. However, since December of last year, the number of employees has increased by about 3%, and is currently at the level since April 2025 — in that month, President Trump introduced a large tariff plan, putting the US business community on alert.
Economists regard temporary recruitment as a leading indicator of the labor market. The traditional view is that companies that recruit new employees on a short-term basis tend to convert them to full time positions in the future.
This may be the case here, but the fact that the year is nearing the end of the year makes it harder to judge. This increase is likely due to recruitment as the holiday shopping season approaches — and if employers expand their staff for the holiday season, they are less likely to retain these employees until January. This type of recruitment usually doesn't start this early, but the season is getting earlier each year. The Bureau of Labor Statistics adjusts the data seasonally, but if the trend itself is changing, it doesn't immediately adjust it.
One clue that holiday recruitment may be moving forward comes from another category of workers: couriers and couriers. This is another barometer of the demand for holiday workers, and a little more than one out of every ten new jobs added during the month came from this category.
Jason Pryder, chief investment strategy and research officer at wealth management firm Glenmede, said the classification “needs to be wary of a reversal in the coming months.”
Election expenses
In the final weeks of an expensive election cycle, recruitment linked to political campaigns may also boost wage numbers.
According to an analysis by the Bureau of Labor Statistics, employment numbers in political organizations have historically surged as midterm or presidential elections approach. The data shows that the number of people employed in these years often peaked in October. Non-farm payrolls expanded in the months leading up to the 2018 and 2022 midterm elections.
However, the unusually huge amount of campaign funds in this round may have turned into more jobs than before.
According to an analysis by OpenSecrets, a monitoring organization that tracks political funding, the 2026 National Assembly election will go down in history as the most expensive midterm election on record. Billions of dollars in campaign spending could be converted into paid jobs that include door-to-door voting, telephone election assistance, or other election-related jobs.