clock menu more-arrow no yes

5 things to know about the (pretty good!) October jobs report

1) The economy gained 271,000 jobs in October. The unemployment rate was unchanged at 5 percent.

2) The number of people working part time because they can't find a full-time job fell by 269,000 to 5.8 million.

3) The labor force participation rate was unchanged at 62.4 percent — which puts it 3.3 percentage points below its level the month Obama took office.

4) Average hourly earnings rose by 9 cents to $25.20. So far, hourly earnings have risen by 2.5 percent over the year.

5) The broad consensus is that this jobs report makes it even more likely that the Federal Reserve will hike interest rates at the December meeting:

You can read the full jobs report here.

Sign up for the newsletter Sign up for The Weeds

Get our essential policy newsletter delivered Fridays.