BG Staffing October Jobs Report: The Labor Market Had More Gas in the Tank

165,000 jobs. That's what the U.S. economy added in October, more than three times its average monthly pace over the past year. And here's the part that really caught our eye: the BLS went back and found 84,000 more jobs in August and September than it first reported.

Last month we called the labor market quiet. Turns out it was just getting its footing.

For property management, the news is good too. Rental and Leasing Services added jobs again in October and is now back above where it stood a year ago. Let's dig in!

The Headline Numbers

The unemployment rate dipped to 4.1 percent, with 7.1 million people unemployed. It has held between 4.1 and 4.3 percent since March, so this is steady ground, not a sudden swing.

Professional and business services led the way with 70,000 new jobs, nearly five times its usual monthly gain. Health care added 42,000. Transportation and warehousing added 25,000, mostly couriers and messengers. Manufacturing kept climbing too, up 19,000 and now 101,000 above its December 2025 low.

Financial activities, the sector that houses real estate, ticked up by 7,000 after months of slipping.

What This Means for Real Estate and Rental and Leasing

Rental and Leasing Services added 1,200 jobs in October, bringing the industry to 574,100 workers. The broader Real Estate and Rental and Leasing sector grew by 5,600, and this time real estate pulled its weight with 4,300 of those jobs.

The bigger milestone is the year-over-year number. Rental and Leasing Services now sits 2,700 jobs above October 2025. Last month's report had it 1,500 below.

We'll keep it honest: September's gain was revised down from 2,700 to 1,500. But two straight months of growth, plus a sector back in positive territory for the year, points one way. Property teams are hiring, and they're competing for the same leasing consultants, maintenance techs and groundskeepers.

Reading Between the Lines

Remember last month's story? Quits in our sector had dropped to 22,000, and we said nobody was leaving. The latest job openings data shows that's already changing. In September, quits in Real Estate and Rental and Leasing jumped to 36,000, and openings climbed from 52,000 to 75,000.

The takeaway? People are moving again, and employers are making room for them. That's an opportunity if you're hiring and a warning if you're not watching retention.

Wages back it up. Average hourly earnings rose 14 cents to $38.00, up 3.1 percent over the year. And temporary help services added 18,600 jobs after losing ground in September. When employers reach for temp talent first, it usually means they see more demand coming and want flexibility while it builds.

"October showed us the labor market had more strength than anyone was giving it credit for," said Kelly Brown, Co-CEO and President of BG Staffing. "Our sector is growing again, and the people property teams want are starting to explore their options. That's a real window for operators who are ready to move, and a real risk for the ones who aren't paying attention to the great people already on their team."

What Smart Property Management Teams Are Doing Right Now

A stronger market cuts both ways. Good candidates are easier to reach, but so are your best people.

Start with retention. Check in with your top leasing and maintenance staff before year-end renewals and the holiday rush, because they're the ones getting calls right now. Then get ahead of hiring. Building a bench before winter maintenance season beats scrambling after a resignation. Flexible staffing, from temp to temp-to-perm to permanent placement, lets you cover gaps fast and try out talent before you commit.

For job seekers, this is a good moment to make a move. Our industry is growing, openings are up and temp-to-hire roles remain one of the fastest ways into a permanent property management career.

At BG Staffing, we're here to help both employers and candidates navigate this transition. Whether you're looking to build your team or your career, we've got the insights and expertise to guide your next move. Connect with us today!

About BG Staffing

BG Staffing is a leading workforce solutions provider that connects employers with top talent across multifamily and commercial property management, providing workforce and staffing solutions. With a commitment to building strong partnerships, BG Staffing delivers innovative staffing strategies that empower businesses and job seekers alike.