The Employment Situation: October 2000 — 2000-11-03

The unemployment rate held at 3.9 percent in October, and total nonfarm employment rose by 137,000, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Among the major industry divisions, construction had the largest over-the-month gain, adding 34,000 jobs. Employment was unchanged in manufacturing and little changed in services and retail trade. Average hourly earnings rose by 6 cents over the month. The number of unemployed persons, 5.5 million, was essentially unchanged in October. The jobless rate (3.9 percent) has remained within the 3.9- to 4.1-percent range since October 1999. Unemployment rates for the major worker groups--adult men (3.4 percent), adult women (3.4 percent), teenagers (12.6 percent), whites (3.4 percent), and blacks (7.3 percent)--showed little change over the month. The rate for Hispanics declined to 5.0 percent. (See tables A-1 and A-2.) Total employment, at 135.4 million, and the employment-population ratio, at 64.4 percent, were essentially unchanged in October.