Job Market Remained Robust In October

The U.S. economy added 128,000 jobs in October and the unemployment rate saw just a tiny tick upward as employers continued to hire in spite of worries about a global economic slowdown.

Strike Hurt Manufacturing Sector

The job gains might have been even stronger had it not been for the United Auto Workers strike against General Motors Company GM. Employment in motor vehicles and parts manufacturing decreased in the month. The UAW's 40-day strike against GM ended last week.

The pull back in auto manufacturing was offset by job gains in restaurants, health care and the financial industry, among other sectors. When excluding the auto sector, which shed 42,000 jobs in the month, manufacturing employment rose.

The unemployment rate in October was 3.6% in October, up slightly from 3.5% in September, the Bureau of Labor Statistics said.

Earnings Up Slightly

Average hourly earnings for all nonfarm payroll employees rose 6 cents to $28.18 in October. Average hourly earnings have gone up 3% over the past year, outpacing inflation, the agency said.

The number of unemployed people was steady, at about 5.9 million.

While continuing to grow, the BLS noted that job growth has slowed from last year, averaging 167,000 jobs added per month so far this year. That compares with a monthly gain of 223,000 in 2018.

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