In October, US companies continued to hire, at a higher-than-expected rate. In the United States, 128.000 jobs were created last month, while analysts expected 75.000. Unemployment rose to 3,6% from 3,5%, in line with expectations.
Hourly wages - closely monitored because they indicate the absence or absence of inflationary pressures - increased by 0,06 dollars to 28,18 dollars, 0,2%, from the previous month; forecasts were for +0,3%. On an annual basis they have risen by 3.0%, above the range between 1,9 and 2,2% recorded since 2012 and above the average of 2% of the last six years; estimates were for +2,9%.
The length of the average work week remained unchanged at 34,4 hours. Labor force participation data rose to 63,3% from 63,2% the previous month (it was 66% before the last recession). At an industry level, the General Motors strike contributed to a 42.000 job loss in the automotive sector and an overall loss of 36.000 in the manufacturing sector.
