The U.S. economy added just 12,000 jobs in October as hiring was held down by strikes and storm damage in the Southeastern U.S.
The Bureau of Labor Statistics reports the nation’s unemployment rate was unchanged at 4.1% in October, and the number of unemployed people was little changed at 7.0 million. In October 2023, the jobless rate was 3.8%, and the number of unemployed people was 6.4 million.
Job seekers found the most opportunities if they applied for positions in health care or in government. Health care added 52,000 jobs in October, in line with the average monthly gain of 58,000 over the prior 12 months. Over the month, employment rose in ambulatory health care services and nursing and residential care facilities.
Employment in government continued its upward trend in October, adding 40,000 jobs. That was similar to the average monthly gain of 43,000 over the prior 12 months.
Most other sectors reduced the number of jobs. Within professional and business services, employment in temporary help services declined by 49,000 in October. Temporary help services employment has decreased by 577,000 since reaching a peak in March 2022.
Manufacturing employment decreased by 46,000 in October, reflecting a decline of 44,000 in transportation equipment manufacturing that was largely due to strike activity.
In October, average hourly earnings for all employees on private nonfarm payrolls rose by 13 cents, or 0.4%, to $35.46. Over the past 12 months, average hourly earnings have increased by 4.0%.