The U.S. economy gained 128,000 jobs in October, and the unemployment rate increased slightly to 3.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics.
In response to the October job numbers, AFL-CIO Chief Economist William Spriggs tweeted:
Unemployment rates for whites and Blacks continue to converge, last year, Black over white unemployment was 6.2:3.3 and now is at 5.4:3.2. A reminder of what some @federalreserve argued couldn't happen without extreme inflation. Full employment is good for everyone @AFLCIO
— William E. Spriggs (@WSpriggs) November 1, 2019
After last year's revisions downward, and a continuation of the trend to start the year, the good news is @BLS_gov has revised August and September numbers up a combined 95,000. This brings average payroll gains to 176,000 over the last 3 months; a good sign. @AFLCIO
— William E. Spriggs (@WSpriggs) November 1, 2019
Jobs in food services continue to grow--despite the industry whining about increased minimum wages. Last month @BLS_gov reported gains of 48,000 with a 3 month average gain of 38,000. The House has passed @BobbyScott bill to #Fightfor15, but Mitch McConnell--crickets. @AFLCIO
— William E. Spriggs (@WSpriggs) November 1, 2019
September and October, Local government employment has finally recovered to its July 2008 level, over 11 years ago. That means we still have fewer @AFSCME @IAFFNewsDesk, @AFTunion per person than back then. Lower public investment is not good. @AFLCIO @RepRoKhanna pic.twitter.com/z9eiDemkDk
— William E. Spriggs (@WSpriggs) November 1, 2019
Part of the average wage problem is that lower than average wage industries (the bottom half of the graph) are showing much greater job gains (the farther right on the graph) than higher wage industries: Why state minimum wage increases are pushing up wages. #Fightfor15 @AFLCIO pic.twitter.com/igabWzyQyP
— William E. Spriggs (@WSpriggs) November 1, 2019
It is troubling that despite many improvements in unemployment rates, long term unemployment remains a bigger problem than before 2008. It helps explain the frustration many people experience, despite low unemployment rates. @AFLCIO #JobsReport pic.twitter.com/jOr7WwzpQe
— William E. Spriggs (@WSpriggs) November 1, 2019
Despite a slightly accelerated rate of job growth the last 3 months, the broadest measure of labor market slack (including those who are part-time but want full-time work and discouraged workers) has been essentially flat. @AFLCIO #JobsReport pic.twitter.com/Se0UyzMiiS
— William E. Spriggs (@WSpriggs) November 1, 2019
#OneJobShouldbeEnough @IWPResearch @HeidiatIWPR 5.7% of women are working two jobs, and the number working two full-time jobs is up over last October. #Fightfor15 America needs a raise. @BobbyScott got the House to pass a raise, Mitch McConnell is doing nothing! @AFLCIO pic.twitter.com/NjWZlsnUdN
— William E. Spriggs (@WSpriggs) November 1, 2019
The problem for the long-term unemployed is not easily explained by some skill bias, since unemployment rates for all education levels have fallen back to 2008 levels--though the college educated are a slight bit higher. @AFLCIO pic.twitter.com/AseiIaI9D4
— William E. Spriggs (@WSpriggs) November 1, 2019
Last month's biggest job gains were in food services and drinking places (48,000), professional and business services (22,000), social assistance (20,000), financial activities (16,000), and health care (15,000). Manufacturing employment decreased by 36,000 and federal government employment was down 17,000 as a large group of temporary census workers completed their work. Employment in other major industries, including mining, construction, wholesale trade, retail trade, transportation and warehousing, and information, showed little change over the month.
Among the major worker groups, the unemployment rates for teenagers (12.3%), blacks (5.4%), Hispanics (4.1%), adult men (3.2%), whites (3.2%), adult women (3.2%) and Asians (2.9%) showed little or no change in October.
The number of long-term unemployed (those jobless for 27 weeks or more) declined in October and accounted for 21.5% of the unemployed.