U.S. payrolls rose 165,000 in October, above the prior 12-month average of 48,000, the Bureau of Labor Statistics reports. Average hourly earnings increased 0.4% on the month and 3.1% over the year. August and September hiring was revised up by a combined 84,000. The stronger hiring picture has a qualification: unemployment changed little at 4.1%, while 339,000 more people worked part time for economic reasons.
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BLS reports October payrolls rose 165,000, above the prior 12-month average monthly gain of 48,000.
Bureau of Labor StatisticsOctober average hourly earnings rose 0.4% on the month to $38.00 and 3.1% over the past 12 months.
Bureau of Labor StatisticsUnemployment changed little at 4.1%; part-time employment for economic reasons increased by 339,000 to 4.8 million.
Bureau of Labor StatisticsLimitation: Stronger payroll growth coexists with an increase in involuntary part-time employment.
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