A slight uptick in unemployment in October is the one blemish on an otherwise strong employment picture for workers, according to the jobs report released on Nov. 4 by the Bureau of Labor Statistics.
A significant number of jobs were gained in October and wages remain up overall. And hiring was stronger in industries that previously lacked growth, including health care and manufacturing.
How many jobs were added in October?
The economy added 261,000 new jobs in October, a slight decline in gains compared with September (263,000).
What is the current unemployment rate?
The current unemployment rate is 3.7%. October’s unemployment rate was a 0.2 percentage point increase from September. The total number of unemployed rose by 306,000 from the previous month.
Is unemployment rising or falling?
The unemployment rate has remained relatively stable, fluctuating between 3.5% and 3.7% since April.
How to calculate the unemployment rate
The unemployment rate is calculated by dividing the number of…
This article was written by Anna Helhoski and originally published on www.nerdwallet.com