Employers Add More Jobs than Expected
More people entered the labor force in October, as hiring ticked up, giving the Obama campaign some relief as the election draws closer.
Employers added 171,000 people to their payrolls in October, reported the Labor Department Friday, showing a steady rise in hiring over past months. The government also said 84,000 more jobs were created in August and September than previously estimated. Employment rose across the board; in professional and business services, health care and retail.
Job growth has averaged 170,000 over the past three months, a pace that is steadily bringing down the unemployment rate.
The jobless rate edged up a tenth of a point to 7.9 percent, due to workers entering the labor force. Only people who are looking for a job count as unemployed.
The department reported that Hurricane Sandy had no discernable effect on the employment and unemployment data for October.