October’s job report saw a gain of 261,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Employment gains happened in health care, professional and technical services, and manufacturing.
October’s unemployment rate was 3.7%, increasing from 3.5% in September. The civilian labor force participation rate is at 62.2%, little changed from 62.3% in September.
The report found that average hourly earnings for employees on private, nonfarm payrolls was $32.58. Over the past 12 months, average hourly earnings have increased by 4.7%.