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11-02-2007, 09:09 AM
WASHINGTON (Reuters) - Employers added a surprisingly strong 166,000 new non-farm jobs in October, twice as many as Wall Street economists had forecast for the strongest hiring since May, the Labor Department reported on Friday.
The national unemployment rate was unchanged from September at 4.7 percent.
The department revised September hiring to show that 96,000 jobs were added instead of 110,000 it reported a month ago and said in August there were 93,000 jobs instead of 89,000 that it previously reported.
Economists surveyed by Reuters had forecast that only 80,000 jobs would be created last month. But the monthly report showed that some 190,000 jobs were created in service industries while 24,000 were lost in the goods-producing sector for a much stronger overall result than anticipated.
Among service industries, business services added 65,000 jobs in October and leisure and hospitality industries hired 56,000 more. Manufacturers cut 21,000 jobs while construction industries reduced payrolls by 5,000 in October, only about one-third of the 14,000 they shed in September.
Both the weekly hours of work and overtime hours were unchanged from September at 33.8 and 4.1 hours respectively
http://www.reuters.com/article/businessNews/idUSN0145711220071102?feedType=RSS&feedName=businessNews&rpc=23&sp=true
The national unemployment rate was unchanged from September at 4.7 percent.
The department revised September hiring to show that 96,000 jobs were added instead of 110,000 it reported a month ago and said in August there were 93,000 jobs instead of 89,000 that it previously reported.
Economists surveyed by Reuters had forecast that only 80,000 jobs would be created last month. But the monthly report showed that some 190,000 jobs were created in service industries while 24,000 were lost in the goods-producing sector for a much stronger overall result than anticipated.
Among service industries, business services added 65,000 jobs in October and leisure and hospitality industries hired 56,000 more. Manufacturers cut 21,000 jobs while construction industries reduced payrolls by 5,000 in October, only about one-third of the 14,000 they shed in September.
Both the weekly hours of work and overtime hours were unchanged from September at 33.8 and 4.1 hours respectively
http://www.reuters.com/article/businessNews/idUSN0145711220071102?feedType=RSS&feedName=businessNews&rpc=23&sp=true