Payrolls expanded by 128,000 jobs in October, leaving employment 1.4% ahead of its level a year earlier. Meanwhile, the growth in payrolls in August and September was revised up by 95,000 jobs. So far in 2019, employment has expanded by a monthly average of 167,000 jobs.
During the first ten months of 2018, payrolls added an average of 225,600 jobs per month.1
The unemployment rate inched up to 3.6% in October from 3.5% in September, which was a 50-year low.1
The labor force participation rate – that is, the share of adult civilians working or looking for work – rose to 63.3% in October, its highest reading in six years.1
Spending on private residential construction in September rose for the third consecutive month for the first time in two years, posting a 10.0% annualized growth rate over those three months. Construction spending was down 3.5% in September 2019 relative to a year earlier.2
Read More Wells Fargo Keeping Current 11.15.2019