Quantcast
Get breaking news alerts via email

Click here to manage your alerts
U.S. sees 3-month surge in job growth
Labor » 171,000 more find work in October, even as unemployment rises to 7.9%.


< Previous Page


Professional services such as architects and computer systems providers also added jobs. So did retailers, hotels and restaurants, and health care.

Vocus Inc., based in Beltsville-Md., has ramped up hiring this year to keep up with the rapid growth in demand for its digital marketing software. It has nearly doubled its staff this year to about 750. Most of the new hires have been sales positions. It plans to hire at least 200 more people next year.

href="http://storify.com/DigitalFirst/november-jobs-report-reaction" target="_blank">View the story "Jobs report: Not bad for Obama, but it can be spun" on Storify]

At a glance

Most industries report job gains

Here’s a look at the jobs added or lost in each sector:

Sector of industry Oct. 2012 Sept. 2012

Construction 17,000 2,000

Manufacturing 13,000 -14,000

Retail 36,400 27,300

Transportation, warehousing 2,200 7,200

Information (telecom, publishing) 1,000 -9,000

Financial services 4,000 14,000

Professional services

(legal, engineering, temp help) 51,000 8,000

Education and health 25,000 50,000

Hotels, restaurants, entertainment 28,000 36,000

Government -13,000 20,000

Join the Discussion
Post a Comment

The company is benefiting as more businesses switch from newspaper ads and the yellow pages to social media and online search engines. Vocus expects revenue to jump more than 50 percent this year compared to 2011.

Companies "are still willing to make investments in marketing software," Rick Rudman, Vocus’ chief executive, said. "We’re helping people grow their businesses."

The economy has shown many signs of picking up a bit. Americans are buying more high-cost items, like cars and appliances. Auto companies reported steady sales gains last month despite losing three days of business to the storm in heavily populated areas of the Northeast.

Yet businesses remain nervous about the economy’s future course. Many are concerned that Congress will fail to reach a budget deal before January. If lawmakers can’t strike an agreement, sharp tax increases and spending cuts will take effect next year and weaken the economy.

American companies are also nervous about the economic outlook overseas. Europe’s financial crisis has pushed much of that region into recession and cut into U.S. exports and corporate profits. Washington • Employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The solid job growth showed that the economy is strengthening slowly but consistently.

The unemployment rate rose to 7.9 percent from 7.8 percent in September. That was mainly because many more people began looking for work, and not all of them found jobs. The government uses a separate survey to calculate the unemployment rate, and it counts people without jobs as unemployed only if they’re looking for one.

Friday’s report was the last major snapshot of the economy before Tuesday’s elections. It’s unclear what political effect the report might have. By now, all but a few voters have made up their minds, particularly about the economy, analysts say.

Since July, the economy has created an average of 173,000 jobs a month. That’s up from 67,000 a month from April through June. Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt and slightly higher than the 7.8 percent on Inauguration Day.


story continues below
story continues below

The work force — the number of people either working or looking for work — rose by 578,000 in October. And 410,000 more people said they were employed. The difference is the reason the unemployment rate rose slightly.

The influx of people seeking jobs "could be a sign that people are starting to see better job prospects and so should be read as another positive aspect to the report," said Julia Coronado, an economist at BNP Paribas.

During a campaign stop in Columbus, Ohio, Obama said the job figures show the economy is slowly healing.

"We’ve made real progress, but we are here today because we know we’ve got more work to do," Obama said. "Our fight goes on."

GOP challenger Mitt Romney pointed out to voters that the unemployment rate is now higher than when Obama took office.

"For four years, President Obama has told us that things are getting better and that we’re making progress," Romney said. "For too many American families, those words ring hollow. We can do better."

Friday’s report included a range of encouraging details.

The government revised its data to show that 84,000 more jobs were added in August and September than previously estimated. August’s job gains were revised from 142,000 to 192,000, September’s from 114,000 to 148,000.

The unemployment rate has fallen a full percentage point in the past 12 months. Much of that decline occurred because people gave up looking for work. That pushed the percentage of Americans working or looking for work to 63.5 percent in August, a 31-year low.

But since then, more Americans have started or resumed their job hunts and most have found work. The percentage of Americans working or looking for work rose for a second straight month in October to 63.8 percent.

The number of people with part-time jobs who wanted full-time work dropped last month. And the number of discouraged workers also declined. A measure of unemployment that includes those two groups plus the unemployed dipped to 14.6 percent from 14.7 percent.

Next Page >


Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.