- The unemployment rate remained at 3.7 percent in October with payrolls expanding by 250,000 jobs,according to the Bureau of Labor Statistics.
- According to the BLS, Hurricane Michael, which fell while the agency collected data, had no noticeable effect on job estimates.
- The Labor Force Participation (LFP) rose 0.02 to 62.9 percent. The Employment-population ratio also finished up for the month at 60.6 percent. The number of unemployed for the month was 6.1 million representing a decline over the year of 449,000 persons.
- Job gains took place in, Health care (+36,000), Manufacturing (+32,000), Construction (+30,000) Professional and business services (+35,000) and the Transportation and warehousing sector (+25,000).
- Mining grew by 5,000 jobs in October while Leisure and hospitality gained 42,000 withstanding the impact of Hurricane Florence. While employment was unchanged in this sector, the two-month growth matched the 12-month average at 21,000 per month.
- In addition, according to the BLS, the following sectors saw little or no change in employment: Wholesale trade, Retail trade, Information, Financial activities and Government.
- Over the year, average hourly earnings have increased by 83 cents or 3.1 percent. In October, the average hourly private non-farm wage rang in at $27.30, an increase of five cents. The average workweek for all employees clocked in at 34.5 hours.
- The number of persons employed part-time for economic reasons was unchanged at 4.6 million. The number of long-term unemployed also changed little at 1.4 million. This group represents 22.5 percent of all unemployed persons.