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October’s job report saw a gain of 150,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Employment gains happened in healthcare, government and social assistance. Employment declined in manufacturing due to strike activity.
October’s unemployment rate was 3.9%, up from 3.8% in September. The civilian labor force participation rate is at 62.7%, down slightly from 62.8% in September.
The report found that average hourly earnings for employees on private, nonfarm payrolls was $34.00. Over the past 12 months, average hourly earnings have increased by 4.1%.