Commissioner's Statement on the Employment Situation News Release — 2012-11-02

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 Daylight Time. Nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent. Job gains occurred in professional and business services, health care, and retail trade over the month. Thus far in 2012, employment growth has averaged 157,000 per month, about the same as the average monthly gain in 2011 (+153,000). Before discussing the details of this month�s report, I would note that Hurricane Sandy had no discernable effect on the employment and unemployment data for October. Household survey data collection was completed before the storm struck the East Coast, and establishment survey data collection rates were within the normal ranges nationally and for the affected areas. Returning to the estimates for October, professional and business services employment increased by 51,000.