The U.S. economy added 161,000 jobs in October and unemployment was down slightly to 4.9%, according to figures released this morning by the U.S. Bureau of Labor Statistics.
In response to the October jobs numbers, AFL-CIO Chief Economist William Spriggs tweeted:
Payroll employment gains 161,000 in October, continues longest string of months with growth @aflcio makes a "Trumpsit" too dangerous— William E. Spriggs (@WSpriggs) November 4, 2016
August and September payroll numbers were revised up by a total 44,000, three month gain averaging 176,000 @aflcio— William E. Spriggs (@WSpriggs) November 4, 2016
The broadest measure of unemployment falls from 9.7 to 9.5%, including discouraged and involuntary part-time workers @aflcio— William E. Spriggs (@WSpriggs) November 4, 2016
Over the year, wages rise 2.8%. That's getting better, but still far from when the Fed needs to act on the economy @aflcio— William E. Spriggs (@WSpriggs) November 4, 2016
Good sign, job quit rate is up from last year, showing growing confidence by workers they can find jobs @AFLCIO— William E. Spriggs (@WSpriggs) November 4, 2016
Wage growth letting households heal from drop in wages in Great Recession, but no room for Fed to raise interest rates https://t.co/NJwHNVWXJl— William E. Spriggs (@WSpriggs) November 4, 2016
Last month’s biggest job gains were in professional and business services employment (43,000), health care (31,000), food services and drinking places (30,000), and financial activities (14,000). Employment in other major industries, including mining, construction, manufacturing, wholesale trade, transportation and warehousing, information, retail trade, and government, changed little over the month.
Among the major worker groups, unemployment rates in October decreased for Hispanics (5.7%), while the rates for adult men (4.6%), adult women (4.3%), teenagers (15.6%), whites (4.3%), blacks (8.6%) and Asians (3.4%) were little changed.
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed in October and accounted for 25.2% of the unemployed.