“Total nonfarm payroll employment rose by 250,000 in October, and the unemployment rate was unchanged at 3.7 percent,” the U.S. Bureau of Labor Statistics announced on Friday.
Key takeaways from the official publication
- Job gains occurred in health care, in manufacturing, in construction, and in transportation and warehousing.
- The unemployment rate remained at 3.7 percent in October, and the number of unemployed persons was little changed at 6.1 million.
- The labor force participation rate increased by 0.2 percentage point to 62.9 percent in October but has shown little change over the year.
- The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour to 34.5 hours in October.
- In October, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $27.30.
- Over the year, average hourly earnings have increased by 83 cents, or 3.1 percent.
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