U.S. Economy Adds 128,000 Jobs in October
Friday, November 01, 2019
The job gains come despite a 40-day General Motors (GM) strike that is estimated to have taken as many as 50,000 autoworkers out of the workforce, according to CNN.
The unemployment rate remains near a 50-year low.
U.S. Adds Jobs
According to the Department of Labor, non-farm payrolls rose by a net 128,000 in October, and September was revised upwards to 180,000 from 136,000.
During October, the labor market participation rate rose to 63.3%, the highest level since August of 2013.
According to the Department of Labor, employment in food services and drinking places rose by 48,000 over the month.
Social assistance added 20,000 jobs in October, with most of the gain occurring in individual and family services.
Financial activities added 16,000 jobs in the month, while manufacturing employment declined by 36,000 in October.
Government and federal employment jobs declined by 20,000.
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