![US payrolls rose by 150,000 in October, less than expected](https://image.cnbcfm.com/api/v1/image/107328503-16990156921699015689-31866482301-1080pnbcnews.jpg?v=1699015691&w=750&h=422&vtcrop=y)
The October jobs report showed a cooling US labor market, with many sectors posting minimal or negative growth, while the economy added only 150,000 jobs overall.
A bright spot was health care and social assistance, which created more than 77,000 jobs. Within this, outpatient healthcare added 32,000 jobs.
If private education were included in that category, as some economists choose to do, 89,000 jobs would have been added in that group.
Government employment grew by 51,000, making it the second strongest category in October. That sector has now returned to pre-pandemic levels, the U.S. Bureau of Labor Statistics said in the report.
“Normally it’s a bad thing when job growth is led by the public sector, but in this case that has happened long before. The private sector employment recovery was much stronger and much faster than that of the public sector,” said Julia Pollak, head of the company. economist at ZipRecruiter.
Other areas showed meager job growth and saw employment shrink. Mining and logging, utilities and retail combined provided only 2,500 jobs. The information sector lost 9,000 jobs, while the transport and storage sector lost more than 12,000 jobs.
“For example, many workers in the trucking industry are facing very, very weak economic conditions. You lose one job and it’s not easy to find another. The same applies to the technology sector,” says Pollak.
Manufacturing was the weakest sector in October, with a loss of 35,000 jobs. The decline was largely due to strike activity, the BLS report said. That should improve in November as the United Auto Workers union has now reached tentative agreements with Detroit’s three major automakers.
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