October’s job report saw a gain of 261,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. There was an increase in food services, drinking places and in some industries that were likely impacted by Hurricanes Irma and Harvey. Other job gains included professional and business services, manufacturing and health care.
Over the past three months, job gains have averaged 162,000 per month.
October’s unemployment rate dropped to 4.1%, down from 4.2% in September. The civilian labor force participation decreased slightly to 62.7%.
The report found that in October, average hourly earnings for employees on private, nonfarm payrolls decreased by 2 cents to $26.53. Over the year, average hourly earnings have risen by 2.4%