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The Economy Adds 161,000 Jobs in October, and Unemployment Down Slightly to 4.9%

The Economy Adds 161,000 Jobs in October, and Unemployment Down Slightly to 4.9%

The U.S. economy added 161,000 jobs in October and unemployment was down slightly to 4.9%, according to figures released this morning by the U.S. Bureau of Labor Statistics. 

In response to the October jobs numbers, AFL-CIO Chief Economist William Spriggs tweeted:

Last month’s biggest job gains were in professional and business services employment (43,000), health care (31,000), food services and drinking places (30,000), and financial activities (14,000). Employment in other major industries, including mining, construction, manufacturing, wholesale trade, transportation and warehousing, information, retail trade, and government, changed little over the month.

Among the major worker groups, unemployment rates in October decreased for Hispanics (5.7%), while the rates for adult men (4.6%), adult women (4.3%), teenagers (15.6%), whites (4.3%), blacks (8.6%) and Asians (3.4%) were little changed.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed in October and accounted for 25.2% of the unemployed.

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