Job creation was much stronger than expected in October.
The U.S. economy added 128,000 jobs for the month and the unemployment rate rose to 3.6 percent, higher than the month before but still near a 50-year low.
Economists had expected the economy to add 75,000 jobs, with forecasts ranging between 55,000 and 155,000, according to Econoday. That unusually wide range was caused, in part, by differing views of how the General Motors strike would hit employment at suppliers and related businesses.
Unemployment was expected to tick up to 3.6 percent.
CBP officers seize nearly 850 pounds of khat packed into 12 suitcases after flight from London
Alina Habba shuts down speculation she could replace Karoline Leavitt as White House press secretary
Pennsylvania State Police helicopter, small plane collide in midair, killing 1 and injuring 2 state troopers
Missouri judge hands Trump, GOP major redistricting win ahead of midterm elections
Idaho county probation officers compile ‘foreign-born list’ to hand over to ICE as critics raise alarms
Chinese national in blue state charged with illegally voting in federal election under another man’s name: DOJ
Parents seek six figures from surrogate who refused abortion after baby’s heart diagnosis: report
WNBA Subreddit Bans Fans from Even Mentioning Sophie Cunningham After Her Defense of Women’s Sports
Man Once Given ‘Outstanding Refugee’ Award by Minnesota Charged in Massive Medicaid Fraud Scheme
Trump threatens ‘unprecedented’ economic consequences for any nation aiding Iran
Police Report Reveals New Details in Hayden Panettiere’s Death: Ex-Boyfriend and ‘Very Emotional’ Brother Were at Scene
Painful: Watch Darline Graham Completely Blank During Debate, Catastrophically Implode on Simple Nat’l Security Question
El-Sayed reveals he would go ‘step further’ than Sanders on socialist plan for major US industry
Pollster Who Had Thanksgiving-Hating Socialist Up 23 Points Closes Up Shop, Admits to Bungling Wisconsin Race
Colorado black bear dies after becoming trapped inside unlocked car for days: report
Prior months were revised upward, indicating that the labor market has been much stronger than initial reports suggested. August’s initial 168,000 was revised up to 219,000. September’s soared from 136,000 to 180,000. Those revisions brought the three-month average up to 176,000.
The strength of the labor market was even more impressive because of the drag created by the GM strike and the government shedding workers it hired to conduct the census. The manufacturing sector shed 37,000 jobs in the month, many of which economists expect will be added back now that GM workers are back on the job. The government cut back by 17,000 jobs.
The pace of average hourly earnings rose by one-tenth of a percent to a year-over-year 3 percent gain. The average workweek was unchanged at 34.4 hours.
Story cited here.
