Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • Mid-Year Report
  • ADAS
  • News
    • OPINION
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • Humanitarian Award
    • RETAIL TIRES
    • SERVICE ZONE
    • TIRE MAKERS
    • Best Places to Work
    • RUSSIA WAR IN UKRAINE
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
November 06, 2015 01:00 AM

U.S. gains jobs in Oct.; unemployment rate inches down

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    WASHINGTON (Nov. 6, 2015) — The U.S. economy continued to chug along last month, nearly doubling the number of jobs created from the previous month while beating the prognostications of many economists.

    Total nonfarm employment rose by 271,000 jobs in October, while the unemployment rate inched down to 5 percent from 5.1, according to the latest figures from the Bureau of Labor Statistics (BLS).

    Sectors posting large job gains were professional and business services (up 78,000); healthcare (up 45,000); retail sales (up 44,000); food services and drinking places (up 42,000); and construction (up 31,000), the BLS said. However, other sectors — including manufacturing, wholesale trade, transportation and warehousing, and mining — were either little changed or slightly down.

    Nevertheless, the BLS October job results were better than economists predicted. The figures from payroll services firm ADP Inc., which compiles its statistics from its own payroll records, was closer to projections with its figure of 182,000 new jobs in October.

    Nearly half the jobs generated in October — 90,000 — came from small businesses, according to ADP. Some 50,000 were generated by companies of 1 to 19 employees, and 41,000 by companies of 20-49 employees, it said.

    Medium-sized businesses — 50 to 499 employees — accounted for 63,000 new jobs, while large businesses — 500 employees or more — generated only 29,000, ADP said.

    Franchise jobs were up 52,500 jobs in October, with 10,260 of them generated by auto parts operations and dealerships, ADP said.

    Despite the greater-than-expected job figures, various groups said there was little reason for joy.

    Scott Paul, president of the Alliance for American Manufacturing, noted that manufacturing jobs were absolutely flat in October.

    “Underneath the euphoria over a good topline employment number is this fact: Manufacturing hasn't gained a single net job since January,” Mr. Paul said. “That's terrible news for our economy.”

    William C. Dunkelberg, chief economist for the National Federation of Independent Business, said the NFIB's Small Business Economic Trends Report also showed dismal job creation numbers.

    “Job creation came to a halt in October likely because small business owners are still consumed by a large cloud of uncertainty and cannot find qualified workers to fill their open positions,” Mr. Dunkelberg said.

    The NFIB's October economic report was based on the responses of 1,411 small businesses, the NFIB said.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Conti rolls out new taglines for Conti, General brands
    2
    Discount Tire installs RoboTire at Arizona store
    3
    Yokohama's operating profits drop despite higher sales
    4
    Average executive salaries found in Tire Talent report
    5
    Icahn auto reports Q1, 1st half losses on lower sales
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Mid-Year Report
    • ADAS
    • News
      • OPINION
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • Humanitarian Award
      • RETAIL TIRES
      • SERVICE ZONE
      • TIRE MAKERS
      • Best Places to Work
      • RUSSIA WAR IN UKRAINE
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION