U.S. employers added 165,000 jobs in October, up from September’s revised 60,000 gain, while the unemployment rate was little changed at 4.1%, according to Bureau of Labor Statistics data released November 6. August and September payroll gains were revised upward by a combined 84,000 jobs.
- October hiring exceeded the average monthly increase of 48,000 over the preceding 12 months.
- Professional and business services added 70,000 jobs, health care gained 42,000, and transportation and warehousing added 25,000.
- Manufacturing employment increased by 19,000, including gains in computer and electronic products, machinery and primary metals.
- Average hourly earnings for private-sector workers rose 0.4% to $38.00, bringing the year-over-year increase to 3.1%.
- August payroll growth was revised from 133,000 to 186,000; September’s gain increased from 29,000 to 60,000.
- Labor force participation was little changed at 61.9%. Approximately 7.1 million people were unemployed.
- The number working part time for economic reasons increased by 339,000 to 4.8 million.
Relevant Companies
None found
Editor’s Note: This is a developing story. This article may be updated as more details become available.
