With just days to go until the crucial 2018 midterm elections, the economy is roaring after adding 250,000 new jobs in October. The number leaps over expectations and predictions of 190,000 new positions.
Further, the labor participation rate has increased. From the Labor Department:
Total nonfarm payroll employment rose by 250,000 in October, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in manufacturing, in construction, and in transportation and warehousing.
The unemployment rate remained at 3.7 percent in October, and the number of unemployed persons was little changed at 6.1 million. Over the year, the unemployment rate and the number of unemployed persons declined by 0.4 percentage point and 449,000, respectively.
Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.4 percent), teenagers (11.9 percent), Whites (3.3 percent), Blacks (6.2 percent), Asians (3.2 percent), and Hispanics (4.4 percent) showed little or no change in October.
The labor force participation rate increased by 0.2 percentage point to 62.9 percent in October.
#BREAKING:— Kevin Cirilli (@kevcirilli) November 2, 2018
BIG JOBS DAY NUMBER:
250K jobs added in October.
Unemployment rate still at 3.7%, still lowest since Dec. of 1969.
- healthcare: 36K
- manufacturing: 32K
- construction: 30K
- transportation: 25K
HOURLY WAGES $27.30, up 3.1%, biggest gain since April 09.
The White House is already touting the numbers and using them to push voters to the polls on Tuesday.
Wow! The U.S. added 250,000 Jobs in October - and this was despite the hurricanes. Unemployment at 3.7%. Wages UP! These are incredible numbers. Keep it going, Vote Republican!— Donald J. Trump (@realDonaldTrump) November 2, 2018
Meanwhile, Presidential Advisor Ivanka Trump continues her work to bridge the gap between a historic number of job openings and necessary skill sets for workers.
Yesterday marked a major milestone in our Pledge to America’s Workers campaign — @realdonaldtrump announced that over 160 companies have signed commitments to create 6.3 MILLION (!!) new jobs and enhanced career opportunities for America’s workers...and counting! https://t.co/EXHopyE8sf— Ivanka Trump (@IvankaTrump) November 1, 2018
Major JOBS + WAGE GROWTH!— Ivanka Trump (@IvankaTrump) November 2, 2018
- Unemployment at 3.7 % - the lowest rate since 1967!
- 3.1% wage growth!
- Hispanic unemployment hit NEW record low of 4.4%
- No industries lost jobs month over month.
This is what we are fighting to continue (and grow!) — VOTE on Tuesday!#JobsReport
Ivanka Trump speaks at a jobs event at the White House: "The reality is that we have an incredible economy, a robust economy and that's because of deregulation, because of tax reform" https://t.co/AfEIFrfeM5 pic.twitter.com/NcRtJuDQac— ABC News Politics (@ABCPolitics) October 31, 2018