November 2, 2007
Job gains surge, earnings flat in October
By Matthew L. Brown
According to the U.S. Department of Labor, nonfarm payroll employment rose by 166,000 in October, and the unemployment rate was 4.7 percent, unchanged from September.
Job gains occurred in professional and business services, health care, and leisure and hospitality. Manufacturing employment continued to decline, and construction employment saw little changed.
The department also reported that average hourly earnings for production and nonsupervisory workers on private nonfarm payrolls increased by $0.03, or 0.2 percent, in October to $17.58.
Average weekly earnings also grew by 0.2 percent over the month, to $594.20. Over the year, average hourly earnings rose by 3.8 percent, and average weekly earnings rose by 3.5 percent.
Job gains occurred in professional and business services, health care, and leisure and hospitality. Manufacturing employment continued to decline, and construction employment saw little changed.
The department also reported that average hourly earnings for production and nonsupervisory workers on private nonfarm payrolls increased by $0.03, or 0.2 percent, in October to $17.58.
Average weekly earnings also grew by 0.2 percent over the month, to $594.20. Over the year, average hourly earnings rose by 3.8 percent, and average weekly earnings rose by 3.5 percent.
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