October 2012 Employment Situation Report from Bureau of Labor Statistics Shows 171000 Jobs Added

Total nonfarm payroll employment increased by 171,000 jobs in October 2012 while the unemployment rate was essentially unchanged at 7.9 percent, according to ‘THE EMPLOYMENT SITUATION — OCTOBER 2012’ released by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS), which also found that Hurricane Sandy “had no discernible effect on the employment and unemployment.” The October 2012 Employment Situation Report is available at http://www.bls.gov/news.release/pdf/empsit.pdf until the November 2012 Employment Situation Report is released on Friday, December 7, 2012.

The October 2012 Employment Situation Report showed the number of unemployed people at 12.3 million was essentially unchanged during the month and revised the change in nonfarm employment for August 2012 from 142,000 jobs added up to 192,000 jobs added and the change for September 2012 from 114,000 jobs added up to 148,000 jobs added. In October 2012, employment rose in professional and business services, retail trade, health care, leisure and hospitality, and construction:

  • Professional and business services added 51,000 jobs in October 2012, with 13,000 jobs gained in services to buildings and dwellings and 7,000 jobs gained in computer systems design.
  • Retail trade added 36,000 jobs in October 2012, with 7,000 jobs gained in motor vehicles and parts dealers and 4,000 jobs gained in furniture and home furnishings stores. Retail trade has added 82,000 jobs over the past 3 months, with most of the gain occurring in motor vehicles and parts dealers, clothing and accessories stores, and miscellaneous store retailers.
  • Health care added 31,000 jobs in October 2012 with 25,000 jobs gained in ambulatory health care services and 6,000 jobs gained in hospitals. Over the past year, employment in health care has risen by 296,000 jobs.
  • Leisure and hospitality gained 28,000 jobs in October 2012 and has added 811,000 jobs since a recent low point in January 2010, with most of the gain occurring in food services.
  • Construction gained 17,000 jobs in October 2012 concentrated in specialty trade contractors.

Employment in manufacturing and other major industries including wholesale trade, transportation and warehousing, information, financial activities, and government showed little change in October 2012, while mining lost 9,000 jobs during the month, with most of the decline occurring in support activities.

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