November 6, 2007
Job gains surge, earnings flat in October
According to the U.S. Department of Labor, nonfarm payroll employment rose by 166,000 in October, and the unemployment rate was 4.7 percent, unchanged from September. Job gains occurred in professional and business services, health care, and leisure and hospitality. Manufacturing employment continued to decline, and construction employment saw little change. The department also reported that average hourly earnings for production and non-supervisory workers on private nonfarm payrolls increased by $0.03, or 0.2 percent, in October to $17.58.
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