NFP = 151k


Nonfarm payroll employment increased by 151,000 in October, and the unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Since December 2009, nonfarm payroll employment has risen by 874,000

The breakdown:

• 14.8 million people remain unemployed, unchanged from prior month; 9.6% is still the percentage.
• Long-term unemployed (jobless for 27 weeks +) was unchanged at 6.2 million. 41.8% percent of the unemployed have been jobless for 27 weeks or more.
• Involuntary part-time workers fell by 318,000 to 9.2 million.
• Temporary help services increased by 35,000. Temp help has added 451,000 jobs since September 2009.
• Average workweek increased by 0.1 hour in October to 34.3 hours.
• Average hourly earnings of all employees increased by 5 cents to $22.73.
• Revisions were positive: August was revised -57,000 to -1,000; September was revised from -95,000 to -41,000.

Gainers and losers by sector:

-Health care continued to add jobs in October (+24,000)
-Retail trade employment rose by 28,000 (including increases in automobile dealers (+6,000)
-Government employment overall was little changed in October
-Leisure & hospitality was a wash, with job losses in arts, entertainment, and
recreation (-26,000) offset by gains in food services and drinking places employment (+24,000)
-Mining employment trended up (+8,000), while manufacturing lost (-7,000)

All told, a surprisingly strong report . . .


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Chart via Calculated Risk


Employment Situation Summary
U.S. Bureau of Labor Statistics, Division of Labor Force Statistics, November 5, 2010

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