The U.S. unemployment rate edged down to 9 percent in October from 9.1 percent, the Labor Department said Friday.
While the numbers were lower than analysts predicted, the economy added 80,000 net new jobs last month, with private sector payrolls increasing by 104,000. Analysts had predicted the economy would have added 95,000 net new jobs.
Employment increases were seen in the professional and business services, (+32,000), leisure and hospitality (+22,000), retail trade (+17,800), health care and social assistance (+16,300), and manufacturing (+5,000).
The sectors which showed employment declines included, (-24,000) and construction (-20,000). State and local governments lost 22,000 jobs and have shed more than 430,000 jobs since February 2010.
The Labor Department revised upward its jobs figure for August, which was initially reported at zero. The agency said 102,000 jobs were created in August and September. Job creaton has averaged 114,000 a month, over the past three months.
Some 15 million Americans remain out of work and another 10 million are underemployed.
