The Bureau of Labor Statistics (BLS) issued the jobs report tied to the month of October and showed a positive gain of 204,000 jobs and a relatively untouched unemployment rate of 7.3%, up just .1%.
The report, which was delayed a week based on the government shutdown, was highly anticipated as it would clearly show the number of employees that were impacted during the two week span in October when the government was closed based on budget issues. In light of this element, many economists were unsure of what the report would look like and the majority of experts were expecting a dismal jobs report—estimates ranged anywhere from a gain of just over 100,000 jobs, with most economists believing growth would fall in the 120,000-140,000 range.
The report was a strong one, with growth exceeding all expectations at a gain of 204,000 and positive revisions for August and September adding 60,000 additional jobs to the economy. Job growth has averaged 190,000 jobs per month over the past year.
Positive revisions showed that September added 60,000 #jobs to the economy. Read more here: http://adec.co/17cY9ta #BLS