UNITED STATES—According from the U.S. Department of Labor, the unemployment rate is the lowest in 50 years.
“The unemployment rate remains near a 50 year low,” said Eugene Scalia, U.S. Secretary of Labor in a statement on November 1. “300,000 Americans entered the labor force in the month of October,” Scalia added. This is the 20th straight month the unemployment rate sits below 4 percent. A total of 128,000 new jobs were added in the month of October
In October 2019, reports show food services and drinking establishments added 48,000 jobs. Employment in social assistance increased by 20,000 in October and 139,000 in the last 12 months.
The report from the Bureau of Labor Statistics show most of the gains transpired in individual and family services which added 17,000 jobs in October, and 111,000 over the year. Jobs in financial activities rose by 16,000. Employment in professional and business services added 22,000 jobs in October, but averaged 33,000 per month in 2019 compared to 47,000 in 2018.
Health care employment continued to rise in the month of October adding 15,000 jobs in and 402,000 in the past 12 months. Employment in manufacturing reflected strike activity with a decrease of 42,000 jobs, and a total of 36,000 in October.
Minimal differences were reflected in employment rates for mining, construction, wholesale trade, retail trade, transportation, warehousing, and information.
The BLS report for the average hourly earnings for all employees on non-farm payrolls rose by 6 cents to $28.18 with a 3 percent increase of hourly earnings over the past year.
