U. S. adds 214K Jobs; unemployment at 6 year low
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Buoyed by retailers and others gearing up for the seasonal holiday rush, the U.S. economy added 214,000 jobs in October, according to the Obama administration.
The job gains marked the ninth straight month of above 200,000 in growth, the first time that has happened in 20 years, and knocked the unemployment rate to a six-year low of 5.8 percent, according to the U.S. Bureau of Labor Statistics (BLS).
Job growth was widespread, but was led by industries known for seasonal hires, such as retail (up 27,000) and food services and drinking places (up 42,000).
But continued growth was also seen in higher-paying and skilled professions. Health care added 25,000 jobs in October, in line with its 12-month track, according to the BLS. Meanwhile manufacturing added 15,000 jobs for the month and has added 17,000 jobs so far in 2014, the BLS said.
Growth was also seen in professional and business services (up 37,000) transportation and warehousing (up 13,000) and construction (up 12,000).
Employment in other major industries, including mining and logging, wholesale trade, information, financial activities, and government, showed little change over the month, according to government figures.
The BLS also revised its numbers from the past two months. August numbers were revised from up 180,000 to up 203,000, and the change for September was revised from up 248,000 to up 256,000. With these revisions, employment gains in August and September combined were 31,000 more than previously reported.
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