U.S. Job Growth Slowed in October, Except for Healthcare

The healthcare sector continues to be a job-creating dynamo.

Healthcare accounted for nearly 40% of the 150,000 jobs created in the U.S. economy in March, new federal data show.

Overall job growth in the national economy slowed in October, well below the 258,000 monthly average for jobs gained over the past 12 months, according to the Bureau of Labor Statistics' monthly report on job growth.

The 58,000 healthcare jobs created in October was more than the 53,000 monthly average for new jobs in the sector over the past year, BLS says.

Within healthcare, ambulatory care services continued to lead in job creation, accounting for 32,000 new jobs for the month. Hospitals accounted for 18,000 jobs, and nursing and residential care accounted for 8,000 jobs.

The unemployment rate in the overall economy held steady at 3.9% in October, BLS says, with 6.4 million people reporting as unemployed, unchanged from September. Big job gains also were seen in government (51,000), leasure and hospitality (19,000), and professional services (15,000) social servoces (14,000). Manufacturing jobs fell by 35,000, reflecting the fallout in the automotive parts manufacturing sector owing to the United Auto Workers strike.

The average hourly earnings for all employees on private nonfarm payrolls in October rose by 7 cents, or 0.2%, to $34. Over the past 12 months, average hourly earnings have increased by 4.1%. The average hourly earnings of private-sector production and nonsupervisory employees rose by 10 cents, or 0.3%, to $29.19. 

October and September job numbers are considered preliminary by BLS, and subject to revisions.