U.S. Economy Added 171,000 Jobs In October

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WASHINGTON, D.C. – U.S. employment increased by 171,000 in October, according to data released this morning by the federal Bureau of Labor Statistics. Gains came from the professional and business services, health care, and retail trade sectors. The national unemployment rate is 7.9 percent.

According to the bureau, Hurricane Sandy had no discernable effect on the employment and unemployment data for October. Household survey data collection was completed before the storm hit.

The unemployment rate for blacks increased to 14.3 percent in October, while the rates for adult men (7.3 percent), adult women (7.2 percent), teenagers (23.7 percent), whites (7.0 percent), and Hispanics (10.0 percent) showed little or no change. The jobless rate for Asians was 4.9 percent in October (not seasonally adjusted), down from 7.3 percent a year earlier.

Five million people – 40.6 percent of the total unemployed population – are counted as long-term unemployed because they have been jobless for 27 weeks or more.

The civilian labor force rose by 578,000 to 155.6 million in October, and the labor force participation rate edged up to 63.8 percent. Total employment rose by 410,000 over the month.

The change in total nonfarm payroll employment for August was revised from +142,000 to +192,000, and the change for September was revised from +114,000 to +148,000.

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