With just days to go until the crucial 2018 midterm elections, the economy is roaring after adding 250,000 new jobs in October. The number leaps over expectations and predictions of 190,000 new positions.
Further, the labor participation rate has increased. From the Labor Department:
Total nonfarm payroll employment rose by 250,000 in October, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in manufacturing, in construction, and in transportation and warehousing.
The unemployment rate remained at 3.7 percent in October, and the number of unemployed persons was little changed at 6.1 million. Over the year, the unemployment rate and the number of unemployed persons declined by 0.4 percentage point and 449,000, respectively.
Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.4 percent), teenagers (11.9 percent), Whites (3.3 percent), Blacks (6.2 percent), Asians (3.2 percent), and Hispanics (4.4 percent) showed little or no change in October.
Wow! The U.S. added 250,000 Jobs in October – and this was despite the hurricanes. Unemployment at 3.7%. Wages UP! These are incredible numbers. Keep it going, Vote Republican!
— Donald J. Trump (@realDonaldTrump) November 2, 2018
BIG JOBS DAY NUMBER:
250K jobs added in October.
Unemployment rate still at 3.7%, still lowest since Dec. of 1969.
– healthcare: 36K
– manufacturing: 32K
– construction: 30K
– transportation: 25K
HOURLY WAGES $27.30, up 3.1%, biggest gain since April 09.
— Kevin Cirilli (@kevcirilli) November 2, 2018
— Sarah Sanders (@PressSec) November 2, 2018
(Read more from “Economy Roars With 250,000 New Jobs in October” HERE)