531,000 Jobs Added in October, Unemployment Rate at 4.6%

Total nonfarm payroll employment rose by 194,000 in October, according to the Bureau of Labor Statistics. Total unemployed persons fell to 7.4 million in October, and the unemployment rate decreased to 4.6%.

Most of the job gains in October were in leisure and hospitality, in professional and business services, in manufacturing, and in transportation and warehousing.

Employment in leisure and hospitality increased by 164,000 in October. Employment rose in food services and drinking places (+119,000) and in accommodation (+23,000). Since February 2020, employment in leisure and hospitality is down by 1.4 million.

Employment in professional and business services increased by 100,000 in October. Employment rose in management and technical consulting services (+14,000), other professional and technical services (+9,000), scientific research and development services (+6,000), and legal services (+5,000). Since February 2020, employment in professional and business services is down by 215,000.

The civilian labor force participation rate was unchanged at 61.6%. Persons on temporary layoff was unchanged at 1.1 million in October. This measure is down considerably from the high of 18.0 million in April 2020 but is 306,000 above the February 2020 level. Workers with permanent job loss declined to 2.1 million.

Read the BLS release.

 

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