Atlanta, GA (PRWEB) December 01, 2015
The Economic Situation report released by the Bureau of Labor Statistics on Friday, November 6, revealed a growth of 271,000 jobs for the month of October, a increase of 134,000 jobs over September’s monthly employment growth.
October’s job growth marks a 97.8 percent increase over September’s revised employment number of 137,000 jobs, and a 22.6 percent increase from last year’s growth of 221,000 jobs in October 2014. Last month, the unemployment rate dropped by 0.1 percentage points to 5.0 percent, while the number of unemployed persons remained unchanged at 7.9 million people. Over the last year, the unemployment rate and the number of unemployed persons were down by 0.7 percentage point and 1.1 million people, respectively.
For the month of October, job gains primarily occurred in professional and business services, health care, retail trade, food services and drinking places, and construction.
Last month, the professional and business services sector gained 78,000 jobs, compared to an average gain of 52,000 per month over the prior 12 months. Gains occurred within administrative and support services (46,000), computer systems design and related services (10,000), and architectural and engineering services (8,000).
Health care added 45,000 jobs in October with growth continuing in ambulatory health care services (27,000) and hospitals (18,000). Over the past 12 months, 495,000 health care jobs have been added to the sector.
Retail trade gained 44,000 jobs in last month, compared to an average monthly gain of 25,000 over the prior 12 months. Within the sector, job gains occurred in clothing and accessories stores (20,000), general merchandise stores (11,000), and automobile dealers (+6,000).
Food services and drinking places added 42,000 jobs last month. Over the past year, the industry has added 368,000 jobs.
The Construction sector reported an increase of 31,000 last month, after several months of very little growth. Over the past 12 months, construction has added 233,000 jobs.
Across all industries, total nonfarm payroll employment increased by 271,000 jobs while the unemployment rate was unchanged at 5 percent. Over the last 12 months, employment growth has averaged 230,000 jobs per month. In October, job gains occurred in health care, retail trade, food services and drinking places, construction and professional and business services.
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