Whether it’s Gangnam Style, the Harlem Shake or Marina Shifrin’s catchy “I Quit” video that went viral last month, it’s OK to do a little happy dance today. (Your co-workers will probably thank you if you can refrain from doing so in public.) That’s because there’s surprisingly good news coming out of the October 2013 jobs report released this morning by the U.S. Bureau of Labor Statistics.
Following each month’s jobs report, we read dozens of news reports, scour the Web, and break what we find down to three key talking points you can use. Whether you’re taking a break at the office water cooler or conversing with peers in the industry, you’ll have three conversation starters in your pocket.
Here’s the news you cAN use from today’s big release:
- Oh economists, you cynics! Turns out there’s surprisingly good news coming out of today’s jobs report, according to many leading analysts and media outlets. Get this: Even though the unemployment rate ticked up ever so slightly (7.3 percent, up from 7.2 percent), the U.S. added 204,000 jobs in October – that’s 84,000 MORE than the 120,000 jobs economists were expecting. Also, not to minimize the repercussions of the 16-day partial government shutdown, but it didn’t have as much of an impact on the October jobs report as many economists had initially feared. You know that saying “Expect the worst, hope for the best?” Seems pretty applicable today.
- August and September numbers were revised up. As if to keep the good times rolling, the new jobs report revised up previously reported numbers for both August and September by a combined 60,000. Here’s a breakdown: August added 238,000 jobs (revised up from 193,000) while September added 163,000 jobs (revised up from 148,000).
- These sectors get gold stars. The leisure and hospitality sector led the way, adding 53,000 of the 204,000 new jobs in October. (A special toast to food services and drinking places, which accounted for 29,000 of those 53,000 jobs.) Retail came in second, adding 44,000 jobs; we of course know many retailers are gearing up for the holidays.
Don’t miss the jobs report buzz! Follow us on Twitter @CBforEmployers and live tweet with us starting at 8:30 a.m. EST on the first Friday of every month as part of #JobsFriday.