Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined.
Household Survey Data
In October, the unemployment rate declined by 1.0 percentage point to 6.9 percent, and the number of unemployed persons fell by 1.5 million to 11.1 million. Both measures have declined for 6 consecutive months but are nearly twice their February levels (3.5 percent and 5.8 million, respectively). (See table A-1. For more information about how the household survey and its measures were affected by the coronavirus pandemic, see the box note at the end of this news release.)
Chosen excerpts by Job Market Monitor. Read the whole story @ Employment Situation Summary
Chosen excerpts by Job Market Monitor. Read the whole story @ Job Gains Show U.S. Economy Continues to Slowly Recover: Live Business Updates