Market Commentary and Intraday News
U.S. Employment Increases More Than Expected In October
201 days ago
(RTTNews) - Employment in the U.S. increased by more than economists had anticipated in the month of October, according to a report released by the Labor Department on Friday, although the report also showed an uptick by the unemployment rate.
The report said non-farm payroll employment increased by 171,000 jobs in October following an upwardly revised increase of 148,000 jobs in September.
Economists had expected employment to increase by about 125,000 jobs compared to the increase of 114,000 jobs originally reported for the previous month.
Despite the continued job growth, the unemployment rate edged up to 7.9 percent in October from 7.8 percent in September due to an increase by the size of the workforce. The modest increase by the unemployment rate matched economist estimates.
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