April 16, 2024 10:23 pm

Local News

Labor Market Continues to Improve in October

Credit: iStock

Staff Writer

The United States added 150,000 new jobs in October, according to the monthly report released by the Bureau of Labor Statistics. Average hourly wages rose 4.1 percent from a year earlier and by 7 cents, or 0.2 percent, compared to September. The national unemployment rate changed little at 3.9 percent. 

The largest gains were seen in health care (+58,000), government (+51,000), social assistance (+19,000), construction (+23,000), and leisure and hospitality (+19,000). October also marked the return of employment in government to pre-pandemic levels. While jobs numbers fell short of economists’ expectations, they nonetheless show signs of continued vitality of the labor market and the economy.

The full Bureau of Labor Statistics report can be found here.