October’s job report saw a gain of 638,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. The improvements are a reflection of the continued resuming of activities due to COVID-19. Employment rose in leisure and hospitality. Other gains include professional and business services, retail trade, and construction. Losses occurred in government employment.
October’s unemployment rate declined to 6.9%, down from 7.9% in September. The civilian labor force participation was 61.7%, slightly up from 61.4% in September.
The report found that in October, average hourly earnings for employees on private, nonfarm payrolls was $29.50.