261,000 jobs added in October, unemployment rate at 3.7%

Total nonfarm payroll employment rose by 261,000 in October, according to the Bureau of Labor Statistics. Total unemployed persons edged down to 6.1 million in October, and the unemployment rate declined to 3.7%.

Job growth was notable in health care, professional and technical services, and manufacturing.

In October, leisure and hospitality added 35,000 jobs in line with the average monthly job gain in the first 10 months of the year. However, Employment in leisure and hospitality is down by 1.1 million, or 6.5 percent, from its February 2020 level.

Employment in professional and business services continued to grow, with an increase of 39,000 in October. Within the industry, employment gains occurred in employment in temporary help services continued to trend up (+11,800), and in scientific research and development services (+5,300). Services to buildings and dwellings (-6,400). Job losses occurred in administration support services (-9,000), business support services (-5,800). Over the past 12 months, professional and business services have added 1.2 million jobs.

In October, employment in health care rose by 53,000, with gains in ambulatory health care services (+31,000), nursing and residential care facilities (+11,000), and hospitals (+11,000). So far in 2022, health care employment has increased by an average of 47,000 per month, compared with 9,000 per month in 2021.

Read the BLS release.