Friday, November 8, 2013

U.S. Payrolls Added 204,000 Jobs in October

This morning the Bureau of Labor Statistics (BLS) reported that employers added 204,000 jobs to their payrolls in October. The unemployment rate was essentially unchanged at 7.3 percent.

Monthly employment gains in October outpaced the 190,000 average for the prior 12 months. Job gains were spread across several industries in October. Leisure and hospitality (+53,000) saw the largest increase. Employment also rose in retail trade (+44,000); professional and technical services (+21,000); manufacturing (+19,000); and health care (+15,000).

How did the federal government shutdown factor into the October jobs numbers? The BLS explained in its news release that "businesses report the number of people who work or receive pay for any part of the pay period that includes the 12th of the month. Persons who work or receive pay for any part of the pay period are defined as employed." Federal government workers on temporary layoff received pay for pay period that included October 12th, and were therefore considered to be employed last month.

Aside from the federal government shutdown, federal government employment declined by 12,000 jobs over the month, and fell by 94,000 jobs over the past year.

For more information on the October employment situation, see the full news release from the BLS.

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