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New Report Shows Rise in US Jobs During October

The U.S. Labor Department says employers in the United States added 337,000 new workers in October, nearly double the rate predicted by analysts.

The report released Friday indicates that 2.2 million jobs have been added since August, 2003. Jobs grew in every sector except manufacturing, with much of the growth due to hurricane clean-up efforts in Florida.

Adding to the significant increase in jobs, the Labor Department said average earnings for workers increased by 2.6 percent this year.

The resurgent labor market data comes days before Federal Reserve policymakers meet in Washington to consider raising short-term interest rates.

Analysts say the large increase in jobs makes it likely the U.S. central bank will increase the rate for the fourth time this year, lifting it to two percent.