U.S. Economy Adds 128,000 New Jobs in October
(November 13, 2019)
- Significantly exceeding expectations, the U.S. economy added 128,000 new jobs in October. An additional 95,000 jobs in upward revisions for August and September show a stronger labor market than previously reported.
The unemployment rate remains near a 50-year low. More than 300,000 Americans entered the labor force in October, leading to a slight uptick of the unemployment rate to 3.6%. This marks the twentieth consecutive month in which the unemployment rate has been at or below 4%.
Wages have grown at or above 3.0% for 15 straight months, including September's increased revision. The labor force participation rate climbed to 63.3%, the highest since August 2013.