11/15/2015
The October 2015 Jobs Report and Hiring Trends:
The US economy added an astounding 271,000 jobs last month and the unemployment rate fell to 5%, which is now at the lowest level since April 2008. The unemployment rate for college-degreed workers 25 and older, those in greatest demand by employers, held at 2.5 percent for the third consecutive month, according to the Bureau of Labor Statistics.
The rebound in hiring in October was driven almost entirely by companies that offer services such as software design, banking, health care, shopping and dining out. White-collar businesses added 78,000 profession jobs, health care added 45,000 positions, retailers took on 44,000 new workers and restaurants hired 42,000 people. Builders also beefed up employment by 31,000, reflecting an upturn in construction over the past year.
The Bureau of Labor Statistics released a far stronger than expected October jobs report Friday.