Manufacturing employment increased 32,000 jobs in October, with durable goods industries leading the way.
Durable goods added 23,000 jobs last month, according to a breakdown by industry issued today by the U.S. Bureau of Labor Statistics.
Among the industries posting gains was motor vehicles and parts, up 4,800 jobs.
The auto industry is gradually recovering from a shortage of computer chips, which has hampered production. Supplies have improved although analysts have said shortages may persist into 2024. Demand for trucks and crossovers has remained strong.
Other job gainers included fabricated metal products, up 5,200 jobs; machinery, up 3,000; computer and electronic products, up 5,400; and miscellaneous manufacturing, up 1,800.
The bureau, in a separate statement, said manufacturing has averaged employment increases of 37,000 a month so far this year. That compares with an average monthly gain of 30,000 jobs in 2021.
Manufacturing employment totaled 12.922 million in October on a seasonally adjusted basis. That was up from an adjusted 12.89 million in September and 12.466 million in October 2021.
Total non-farm employment rose by 261,000 jobs last month, the bureau said. That was better than the average of 200,000 among economists surveyed by Reuters.
Non-farm employment has averaged a monthly gain of 407,000 jobs so far this year, according to the bureau. That’s down from a monthly average of 562,000 in 2021.
The Federal Reserve is boosting interest rates as it puts a brake on the economy in a bid to cool down inflation.
The U.S. unemployment rate ticked up to 3.7 percent in October, up from 3.5 percent the month before.
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