US Adds 250,00 Jobs, Wages Rise 3.1%

Donald Trump

The Labor Department's monthly jobs report, the last major economic data before the November 6 election, also shows the unemployment rate remained at a five-decade low of 3.7 percent. In September the unemployment rate fell 3.7%, a 49-year low, and remained there in October.

- US employers added a stellar 250,000 jobs last month and boosted average pay by the most in almost a decade in an effort to attract and keep workers.

August's job gains were revised up from 270,000 to 286,000 and the change for September was revised down from 134,000 to 118,000. The state's rate in September was 3.8 percent, down 0.8 percent from 4.6 percent in September 2017.

The two reports also respond differently to hurricanes.

Strong annual wage growth mirrors other data published this week showing wages and salaries rising in the third quarter by the most since mid-2008. The probability of another 25 basis-point (one-quarter percentage point) rise in the federal funds target, from 2%-2.25% now, at the December 18-19 meeting of the Federal Open Market Committee continues to hover around 75%, according to Bloomberg data. The prime-age (25-54) labor force participation rate-which is an important indicator because it is not driven by demographics, but rather by the strength of the job market-increased by 0.4 89.0 percent among men and by 0.6 75.8 percent among women.

The October data may be less of an indicator of the trend than usual because they reflect distortions from hurricanes both this year and last year.

The country now has 7.1 million job openings, a record high, the Labor Department announced Tuesday.

Average hourly wages rose 3.1 percent in October from a year earlier, the fastest annual gain since 2009.

Priyanka Chopra announces bachelorette. Her mom-in-law is every Indian mom
And if Chopra's bachelorette party is this weekend, that means her wedding to Nick Jonas is happening so, so soon. On the work front, Priyanka is now pre-occupied with The Sky Is Pink shoot, her first Hindi film in two years.

Florida Yoga Studio Mass Shooting Leaves Two Dead, Five Injured
Erskin Wesson, 64, said he was eating dinner with his family at a restaurant below Hot Yoga when they heard the gunshots. The two slain Friday were a student and faculty member at Florida State University , according to university officials.

Virat Kohli's absence huge psychological plus for West Indies: Sunil Gavaskar
Pant is expected to fulfil the wicket-keeping responsibilities while Karthik could take on one of the positions in the outfield. The seasoned Mumbai batsman was the second highest scorer behind Kohli, scoring 389 runs at 129.66, that included two hundreds.

The continued pace of job growth is unusual at this point in an economic recovery, and shows that there are still enough workers coming off the sidelines as opportunities improve to supply at least a portion of businesses' labor needs.

Still, the latest month of healthy job growth might not tip many votes in the midterm elections. Retailers created 2,400 jobs following a 32,400 decline in September.

Health care, manufacturing, construction, transportation and warehousing fueled October'sparticularly strong job growth. Job gains in the sector, which accounts for about 12 percent of the US economy, could slow after a survey on Thursday showed a measure of factory employment fell in October. Construction employment grew by 30,000. Jobs in the sector have been increasing despite weakness in the housing market.

William Stoller, chairman and chief executive of Express Employment Professionals, which is based in Oklahoma City, said pay in light industrial and administrative jobs, for example, had climbed to $14.50 to $15.50 an hour, from roughly $13.60 a year ago.

This article is for general information purposes only.

The dollar .DXY was trading higher against a basket of currencies.

So far, manufacturing hiring does not appear to have been affected by the Trump administration's protectionist trade policy, which has contributed to capacity constraints at factories.

The jobs report comes after US stocks were hammered throughout the month of October, with the tech-heavy Nasdaq Composite falling roughly 9 percent over the month as weak earnings reports hurt industry leaders such as Amazon and Google's parent company, Alphabet. The United States is locked in a bitter trade war with China as well as tit-for-tat tariffs with other trade partners, including the European Union, Canada and Mexico.

Related news:

Hot News

isis-killer-beheading-video-story-top Sri Lanka to lift parliament suspension in 10 days
Nov 05, 2018 - 00:50
Some 120 lawmakers were expected by Sunday to support a no-confidence vote against Rajapaksa, according to AP count. Wickremesinghe has refused to accept his dismissal, claiming to be the country's legitimate premier.

isis-killer-beheading-video-story-top Liverpool draw shows Arsenal can play with top teams - Bernd Leno
Nov 04, 2018 - 23:33
That also underlines the attacking depth the manager has at his disposal. "He was up against three really good attacking players". Having started his tenure as head coach with losses to City and Chelsea, the Spaniard has not tasted defeat since.

isis-killer-beheading-video-story-top U.S. Trade Deficit With China Hits All-Time High Despite Tariffs
Nov 04, 2018 - 23:01
Beijing also emphasized that bilateral trade is in principle beneficial for both parties. We talked about many subjects, with a heavy emphasis on Trade, ' Trump tweeted.

isis-killer-beheading-video-story-top Here are 4 of Trump’s worst racist comments, according to Michael Cohen
Nov 04, 2018 - 22:43
On the way from the airport to the hotel, Cohen says they passed through "what looked like a rougher neighborhood". Cohen told Vanity Fair Friday that Trump frequently used racist language in private before he became president.

isis-killer-beheading-video-story-top Kim Kardashian West opens up about Kanye romance, outbursts
Nov 04, 2018 - 21:31
She also added that sometimes West's does not have a political context, but represents his own stance on the world. Meanwhile, Kim recently opened up about the impact being a mother has had on her relationship with Kanye.

isis-killer-beheading-video-story-top USA mayor Taylor on leave from office killed in Afghanistan
Nov 04, 2018 - 21:12
Initial reports indicate the attacker was a member of the Afghan National Defense and Security Forces, U.S. We must rally around his family. 'I wish them all the comfort and courage to face the hard days ahead'.

isis-killer-beheading-video-story-top BMW reveals SA-bound 8 Series drop
Nov 04, 2018 - 21:07
Following a leak earlier this week , BMW has unveiled the all-new 8-Series Convertible . BMW built air vents into the front seat headrests that act as neck warmers.

isis-killer-beheading-video-story-top Woman thought nightclub bouncer groped her so she choked him unconscious
Nov 04, 2018 - 19:05
Lagrave, who has been charged with second-degree strangulation, which is a felony, was in fact slapped by her female friend. They said the bouncer didn't try to stop her because he thought it was a friend playing a joke on him.

isis-killer-beheading-video-story-top WaPo: Saudi Crown Prince Told Kushner & Bolton Khashoggi Was a Terrorist
Nov 04, 2018 - 18:38
Aktay, who also a friend of the also a friend of the slain Washington Post columnist, said this on Friday, November 2. Once inside, he was immediately strangled and then dismembered, according to the Istanbul Prosecutor's office.

isis-killer-beheading-video-story-top U.S. to grant Iraq waiver over Iran sanctions for gas, food items
Nov 04, 2018 - 18:22
Indian Oil Minister Dharmendra Pradhan said his country and other leading oil importers would benefit from the US waivers. The US will from Monday target buyers of Iranian oil in order to deprive Tehran of its main source of income.

isis-killer-beheading-video-story-top Tigress who killed 13 finally shot dead after three-month search
Nov 04, 2018 - 18:03
Gandhi also expressed concern over the well being of the two cubs left behind after the killing of their mother. T1 is said to have been shot dead by Ashgar Ali Khan, son of India's most famous hunter Nawab Shafath Ali Khan.

isis-killer-beheading-video-story-top Oprah Wore a Blake Lively-Approved Velvet Suit While Campaigning in Georgia
Nov 04, 2018 - 16:29
But I also think they're excited by the possibility it could work". "Canvassing for #StaceyAbramsforGovernor", Winfrey posted . The chat show host appeared on stage to support Democrat Stacey Abrams' campaign to become Governor of Georgia.

isis-killer-beheading-video-story-top Deepika Padukone wedding ceremony started with a puja in Benguluru
Nov 04, 2018 - 16:15
We hear that master chefs will prepare the dishes on the exclusive wedding menu, which will be prepared right at the venue. Fans are more than excited about the wedding, and are lapping up each and every detail of the functions.

isis-killer-beheading-video-story-top We’re officially in a global smartphone slump for the fourth straight quarter
Nov 04, 2018 - 16:13
However, this also presents long-term growth opportunities for OEMs with many entering such markets to grow their sales. The latest analyst figures for global smartphone shipments show the market for the devices is now in a recession.

isis-killer-beheading-video-story-top Liverpool boss Klopp: Virgil said he could've had a hat-trick
Nov 04, 2018 - 10:59
A point certainly felt well deserved and Arsenal easily could have scored more if they had been sharper in front of goal. There are doubts but we are going to wait to see if we can use one or another player in the full-back positions.