BLS Releases October 2017 Employment Situation (Nov. 2017)
Employers added 261,000 nonfarm payroll jobs in October of 2017, according to the Bureau of Labor Statistics. The unemployment rate moved down to 4.1 percent.
Job gains occurred in professional and technical services, manufacturing, and health care, offsetting a sharp decrease in food services and drinking places employment due to the September hurricanes. The number of jobs in professional and business services increased by 50,000 over the month, while manufacturing gained 24,000 jobs and health care gained 22,000 jobs.
Job growth in September 2017 was revised to 18,000, up from the initially estimated -33,000. Over the past three months, job growth has averaged 162,000 additions a month.
Average hourly earnings rose by five cents to $26.53. Over the year, average hourly earnings have risen 2.4 percent.
The full BLS press release on the October 2017 employment situation can be accessed in the link below:
The next employment situation report for November 2017 will be released on Friday, December 8, 2017.