U.S. adds 128,000 jobs in October, unemployment rises to 3.6%

WASHINGTON (MarketWatch) – The U.S. created 128,000 new jobs in October and hiring in the prior two months was stronger than initially reported, indicating the labor market maintains plenty of strength. The increase in new jobs easily exceeded the 75,000 MarketWatch forecast. Economists had expected a six-week GM strike to weigh on employment gains. The unemployment rate edged up to 3.6% from 3.5%. The average wage paid to American workers rose 6 cents, or 0.2%, to $28.18 an hour. The 12-month rate of hourly wage increases was unchanged at 3%. Hours worked each week was flat at 34.4 hours. The government revised the increase in new jobs in September to 180,000 from 136,000. August’s gain was raised to 219,000 from 168,000.

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