BofA Institute: Job Market Soft but Skilled Trades Gap Persists

NewsData.io · United States · Oct 13, 2026

Bank of America Institute economists say the U.S. labor market is weak on headline numbers — just 29,000 jobs added last month — but internal data suggests underlying employment growth remains fairly decent. Job-switching rates hit a three-year high in July, and wage gains for switchers are trending upward. Analysts at the Bipartisan Policy Center note the skilled trades shortage as a key structural problem, with too few workers qualified for available high-paying roles. Recruiters specializing in skilled trades or workforce development may see increased client demand, while wage data on job-switchers signals continued leverage for candidates in tight segments.