Commissioner's Statement on the Employment Situation — 2006-11-03

Advance copies of this statement are made available to the press under lock-up conditions with the explicit understanding that the data are embargoed until 8:30 a.m. Eastern Standard Time. Employment rose in October and the unemployment rate declined to 4.4 percent. The number of nonfarm payroll jobs increased by 92,000 in October, following gains of 148,000 in September and 230,000 in August (as revised). Employment continued to trend up in several service- providing industries, while manufacturing and construction lost jobs over the month. Average hourly earnings increased 6 cents, or 0.4 percent. Job growth continued in professional and business services, with a gain of 43,000 in October. Employment increased over the month in management and technical consulting services and in business support services. Health care added 23,000 jobs in October, as gains occurred in hospitals and in nursing and residential care facilities. Employment in the health care industry has risen by 302,000 over the year.