October U.S. Jobs Report: 150,000 Rise in Payrolls, Depressed by Strike Activity

The U.S. economy added 150,000 jobs in October, according to the latest report from the Bureau of Labor Statistics.

The government’s report revised down previous estimates for new job creation in September and August.

The unemployment rate edged up to 3.9% in October from 3.8% in September.

Nonfarm payroll employment had been forecast to rise by 180,000, and the unemployment rate was expected to remain at 3.8%, according to FactSet’s consensus estimates.

Employment declined in manufacturing during the month due to strike activity, the BLS said.

October Jobs Report Key Stats

• Total nonfarm payrolls increased by 150,000 versus a downward revised 297,000 in September.
• The unemployment rate edged up to 3.9% from 3.8% in September.
• Average hourly wages rose by 0.2% to $34.00 after rising 0.3% in September.

In October, average hourly wages grew by 7 cents, or 0.2%, to $34.00. Over the past 12 months, average hourly earnings have risen by 4.1%.

The average workweek for all employees on private nonfarm payrolls fell to 34.3 hours in October, down from 34.4 in September. For manufacturing employees, the average workweek was unchanged at 40.2 hours in October, and overtime fell to 3.0 hours. For production and nonsupervisory employees, the average workweek lengthened to 34.1 hours from 33.8 the prior month.