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Unemployment rises in October

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The U.S. unemployment rate increased to 7.3 percent in October from 7.2 percent in September as U.S. employers added 204,000 jobs, according to The Washington Post. Economists were expecting to add 120,000 jobs.

Additionally, hiring growth in August and September was revised up. August's job growth was revised up to 238,000 from 193,000, and September's job growth was revised up to 163,000 from 148,000.

In October, the leisure and hospitality sector added 53,000 jobs; retail sector added 44,000 jobs; professional and technical services sector added 21,000 jobs; manufacturing sector added 19,000 jobs; and health care sector added 15,000 jobs.

The federal government sector lost 12,000 jobs. The transportation and warehousing, construction and financial activities sectors basically were unchanged.

The jobs report will be examined closely by investors and economists to see how the government shutdown affected the labor market.

There currently are 11.3 million unemployed people in the U.S.


11/8/2013

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