News / Economy

US Posts Solid Job Gains in October But Unemployment Rate Ticks Higher

US Posts Solid Job Gains in October But Unemployment Rate Ticks Higheri
X
November 08, 2013 10:37 PM
Despite a partial government shutdown, the Labor Department says the U.S. economy added 204,000 jobs in October and said hiring for August and September was better than previously thought. Still, the unexpected burst of hiring was not enough to lower the unemployment rate. Mil Arcega has more.
U.S. job growth was better than expected last month.  Despite a partial government shutdown, the Labor Department says the U.S. economy added 204,000 jobs in October and said hiring for August and September was better than previously thought.  Still, the unexpected burst of hiring was not enough to lower the unemployment rate. 
 
The U.S. economy added more jobs last month than the modest 125,000 economists were expecting.  And job gains for August and September were also revised higher.  

But the numbers don’t tell the whole story, says Bankrate.com’s Mark Hamrick.  
He spoke to VOA via Skype.

“This one report is substantially better than expected, but it really flies in the face of a lot of other things we have been watching lately, so we really need to see some other data that would confirm what, on balance, is a positive report," said Hamrick.

Despite solid job gains, the unemployment rate ticked higher, from 7.2 to 7.3 percent - likely because some of the 800,000 workers furloughed during the government shutdown were counted as unemployed.

Visiting the Port of New Orleans to promote export-related jobs, President Barack Obama says there’s no question the 16-day shutdown hurt the economy.

“That makes no sense.  These self-inflicted wounds don’t have to happen. They should not happen again.  We should not be injuring ourselves every few months. We should be investing in ourselves.  We should be building, not tearing things down," said President Obama.

Although the manufacturing and construction sectors saw modest increases, Mark Hamrick says the bulk of the new hires came from lower paying jobs in the retail and hospitality trades.

“We like jobs wherever we can get them, but we also want high quality jobs, and that wasn’t necessarily the case with this report," he said.

While the stronger job numbers came as welcome news on Wall Street, some investors wondered whether it might mean an early exit from the central bank’s low interest rate policies.  

Hamrick says that’s not likely.  He says the bigger question is whether consumer sentiment can sustain job growth as the lucrative holiday shopping season approaches.

You May Like

Tunnel Bombs Highlight Savagery of Aleppo Fight

Rebels have used tunneling tactic near government buildings, command posts or supply routes to set off explosives; they detonated their largest bomb this week under Syria's intelligence headquarters More

Sierra Leone Launches New Initiative to Stop Ebola Spread

Government hopes Infection and Prevention Control Units, IPC, will help protect patients and healthcare workers More

UN Official: Fight Against Terrorism Must Not Violate Human Rights

UN High Commissioner for Human Rights says efforts by states to combat terrorism are resulting in large scale rights violations against the very citizens they claim to defend More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Video Claims to Show Shia Forces in Iraq Executing Sunni Boyi
X
Jeff Seldin
March 05, 2015 2:36 AM
A graphic mobile phone video is spreading on the Internet, claiming to show Iraqi forces or Shia militia executing a handcuffed Sunni boy. Experts have yet to verify the video, but already Islamic State followers are publicizing it across social media, playing on deep-rooted sectarian fears. VOA’s Jeff Seldin reports.
Video

Video Video Claims to Show Shia Forces in Iraq Executing Sunni Boy

A graphic mobile phone video is spreading on the Internet, claiming to show Iraqi forces or Shia militia executing a handcuffed Sunni boy. Experts have yet to verify the video, but already Islamic State followers are publicizing it across social media, playing on deep-rooted sectarian fears. VOA’s Jeff Seldin reports.
Video

Video Ukrainian Authorities Struggle to Secure a Divided Mariupol

Since last month's cease-fire went into effect, shelling around the port city of Mariupol has decreased, but it is thought pro-Russian separatists remain poised to attack. For the city’s authorities, a major challenge is gaining the trust of residents, while at the same time rooting out informants who are passing sensitive information to the rebels. Patrick Wells reports for VOA.
Video

Video Volunteer Gauge-Watchers Help Fine-Tune Weather Science

An observation system called CoCoRaHS is working to improve weather science, thanks to thousands of volunteers across the country who measure precipitation in their own backyards, then share their data through the Internet. VOA's Shelley Schlender reports.
Video

Video NASA Spacecraft Approaches a Dwarf Planet

NASA’s Dawn spacecraft will make history on Friday, March 6, when it becomes the first man-made object to orbit a dwarf planet named Ceres. It is located in the asteroid belt between Mars and Jupiter, almost 500 million kilometers from Earth. Among other objectives, Dawn will try to examine two mysterious bright white spots detected on the planet’s surface. VOA’s George Putic has more.
Video

Video Young Muslims Radicalized Online

Young Muslims are being radicalized ‘in their bedrooms’ through direct contact with Islamic State or ISIL fighters via the Internet, according to terror experts. There are growing concerns that authorities and Internet providers are not doing enough to counter online extremism - which analysts say is spread by a prolific network of online supporters around the world. Henry Ridgwell reports from London.
Video

Video African Americans Recall 1960s Fight For Voting Rights

U.S. President Barack Obama and thousands of people will gather in the small southern U.S. city of Selma, Alabama, Saturday, March 7 to commemorate the 50th anniversary of a historic voting rights march that became known as “Bloody Sunday." VOA’s Chris Simkins traveled to Alabama and introduces us to some of the foot soldiers of the voting rights struggles of the 1960s.
Video

Video Positive Messaging Transforms Ethiopia's Image

Ethiopia was once known for famine and droughts. Now, headlines more often point to its fast-growing economy and its emergence as a regional peacemaker. How has Addis Ababa changed the narrative? VOA's Marthe van der Wolf reports.
Video

Video Cyber War Rages Between Iran, US

A newly published report indicates Iran and the United States have increased their cyber attacks on each other, even as their top diplomats are working toward an agreement to guarantee Iran does not develop a nuclear weapon and to free Iran from international sanctions. The development is part of a growing global trend. VOA’s Al Pessin reports from London.
Video

Video Answers Elude Families of MH370 Passengers

For the families on board Malaysia Airlines flight MH370, an airline official’s statement nearly one year ago that the plane had lost contact with air traffic control at 2:40 AM is the only thing that remains confirmed. William Ide reports.

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

World Currencies

EUR
USD
0.8954
JPY
USD
119.75
GBP
USD
0.6515
CAD
USD
1.2518
INR
USD
61.921

Rates may not be current.