US Economy Adds The Least Jobs in 5 Months


Total nonfarm payroll employment in the United States increased by 161,000 in October of 2016, less than an upwardly revised 191,000 in September and below market expectations of 175,000. Employment continued to trend up in health care, professional and business services, and financial activities. So far this year, employment growth has averaged 181,000 per month, lower than an average monthly increase of 229,000 in 2015.

Health care employment rose by 31,000 in October. Within the industry, employment growth occurred in ambulatory health care services (+19,000) and hospitals (+13,000). Over the past 12 months, health care has added 415,000 jobs.

Employment in professional and business services continued to trend up in October (+43,000) and has risen by 542,000 over the year. Over the month, a job gain occurred in computer systems design and related services (+8,000). Employment in management and technical consulting services continued to trend up (+5,000).

In October, employment in financial activities continued on an upward trend (+14,000), with a gain in insurance carriers and related activities (+8,000).

Employment in other major industries, including mining, construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, information, leisure and hospitality, and government, changed little over the month.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in October. In manufacturing, the workweek edged up by 0.1 hour to 40.8 hours, while overtime was unchanged at 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.6 hours. 

In October, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents to $25.92, following an 8-cent increase in September. Over the year, average hourly earnings have risen by 2.8 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $21.72 in October. 

   US Economy Adds The Least Jobs in 5 Months


BLS | Joana Taborda | joana.taborda@tradingeconomics.com
11/4/2016 12:42:28 PM