U.S. employers added solid 128,000 jobs in October

WASHINGTON — U.S. employers added a strong 128,000 jobs in October, a figure that was held down by a now-settled strike towards Basic Motors that induced several thousand staff to be briefly counted as unemployed.

The Labor Division says the unemployment fee ticked up from 3.5% to three.6%, nonetheless near a five-decade low. For the second straight month, average hourly wages rose 3% from a yr in the past.

The GM strike contributed to the lack of 41,600 auto manufacturing unit jobs in October. However the settlement will possible lead to a rebound within the coming months. The report revised upward job positive factors within the prior two months by a combined 95,000, suggesting a healthier job market than initially believed.

Still, hiring has slowed this yr. Positive factors averaged simply 167,000 up to now 10 months, down from a month-to-month common of 223,000 in 2018, based on Labor Department figures.

Article originally revealed on POLITICO Magazine

Src: U.S. employers added solid 128,000 jobs in October
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