US workforce added more jobs than expected
Employment in the United States grew less sharply last month than in September. However, the increase exceeded expectations. The US Department of Labor announced that 638,000 jobs were created in October, excluding the agricultural sector. Economists had expected an average increase of 593,000 jobs.
The growth of jobs was thus contrary to the expectations that the expanding SARSv2 disease in the US and the absence of additional state aid for companies would significantly reduce the number of jobs. The figures also included the disappearance of 147,000 temporary jobs in the United States Census.
In September, according to a revised figure, 672,000 jobs were created in the world’s largest economy. Unemployment in the US was 6.9% last month compared to 7.9% a month earlier. That decrease was bigger than anticipated.
The figures suggest a better situation for the US economy, but the number of jobs is still 10 million lower than before the virus outbreak. As the number of infections increases, it is also becoming more and more difficult to keep up the same pace of recruitment.