Job Growth Soars, Crime Drops
New reports from the FBI and Bureau of Labor Statistics show continued declines in crime and strong job growth in the U.S.
In its final annual report covering over 94% of the U.S. population, the FBI reported that violent crime dropped nationwide last year, with murders down nearly 12% from 2022 to 2023, marking the largest decrease in decades. The number of reported rapes fell over 9%, and property crime dropped an estimated 2.4%. This data included full-year contributions from all major cities with populations over a million, though agencies like the Los Angeles Police Department did not participate. Chicago’s Police Department reported a 12.9% drop in homicides for 2023 compared to 2022. A new preliminary report shows further declines, with violent crime down 10.3% from January to June 2024, including a 22.7% drop in murders and a 13.1% decrease in property crime.
The job market also beat expectations with the addition of 254,000 new jobs in September, most of them in food services, healthcare, government, social assistance, and construction. Average hourly earnings rose 4% over the past year, well above inflation, which is now back to pre-pandemic levels at 2.5%. The Dow Jones surged on this positive economic news, closing at a record high of 42,352.