Unemployment decreases in October

The U.S. unemployment rate decreased slightly from 4.2 percent in September to 4.1 percent in October, the lowest it's been since 2000, according to The Washington Post. Additionally, the economy added 261,000 jobs as the country rebounded from hurricanes Harvey and Irma.

Analysts anticipated October's numbers would reflect economic recovery as employees in Texas, Florida and other states hit by the storms returned to work. About 100,000 hospitality employees missed paychecks in September.

"Quite a bit of the loss we saw last month was not actually people who permanently lost their jobs, but rather people who did not happen to be paid during that period," says Cathy Barrera, chief economist at the jobs website ZipRecruiter.

Employment in food services and drinking places rose sharply in October by 89,000, following a decrease of 98,000 in September when many workers were off payrolls because of the hurricanes.

Additionally, the professional and business services sector added 50,000 jobs; manufacturing employment rose by 24,000; and health care added 22,000 jobs.

Employment in other major industries, including mining, construction, wholesale trade, retail trade, transportation and warehousing, information, financial activities and government, showed little change in October.

There currently are 6.5 million unemployed people in the U.S.

Date : 11/6/2017


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