October’s Job Report: Rate Changes Little to 4.9%
Nov 4, 2016, 08:24 AM
October’s job report saw an increase of 161,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Job continued to trend up in health care, professional and business services, and financial activities.
Over the past three months, job gains have averaged 181,000 per month.
October’s unemployment rate has little change to 4.9%, down from 5.0% in September. The civilian labor force participation rate also decreased slightly to 62.8%, down from 62.9% in September.
The report found that in October, average hourly earnings for employees on private, nonfarm payrolls rose by 10 cents to $25.92. Over the year, average hourly earnings have risen by 2.8%.