The U.S. Bureau of Labor Statistics released the October jobs data today. Total
nonfarm payroll employment increased by 271,000 in October, and the unemployment
rate remained unchanged at 5.0 per cent. Job gains mostly occurred in
professional and business services, health care, retail trade
and
construction.
Both the unemployment rate (5.0 percent) and the number of
unemployed persons (7.9 million) were essentially unchanged in October.
The private sector added 268,000 jobs (consensus was 165,000) while
employment in government rose by 3,000. The October labor force participation
rate remained unchanged at 62.4 percent
Over the past 12 months, the
unemployment rate and the number of unemployed persons were down by 0.7 per cent
and 1.1 million, respectively
