U.S. Employment Increases; Jobless Rate Unchanged
The Labor Department said U.S. employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9%. Employment rose in professional and business services, healthcare and retail trade.
Hurricane Sandy had no discernible effect on the employment and unemployment data for October, the Labor Department said. Household survey data collection was completed before the storm, and establishment survey data collection rates were within normal ranges nationally and for the affected areas.
Employment in construction edged up in October. The gain was concentrated in specialty trade contractors (+17,000). Manufacturing employment changed little in October. On net, manufacturing employment has shown little change since April.
To read the full Labor Department news release click here.