WASHINGTON — U.S. nonfarm payroll employment grew by 250,000 jobs in October 2018, according to the latest figures from the Bureau of Labor Statistics.
The unemployment rate stood firm at 3.7 percent, the lowest rate in nearly a half-century, according to the BLS report issued Nov. 2.
October saw large gains in manufacturing (up 32,000 jobs), professional and business services (up 35,000), construction (up 30,000), leisure and hospitality (up 42,000) and health care (up 36,000), the BLS said.
Mining, however, gained only 5,000 jobs, and growth was flat in retail and wholesale trade, the agency said.
On Oct. 31, payroll services firm ADP Inc. released its own report, saying that nonfarm private employment in the U.S. grew by 227,000 jobs in October.
Large businesses (500 employees and up) accounted for nearly half the monthly growth, with 102,000 new jobs, ADP said.
There were 96,000 new jobs in medium-sized businesses (50 to 499 employees), but only 29,000 in small businesses (one to 49 employees), the company said.
Goods-producing businesses added 38,000 jobs, including 17,000 in manufacturing, 17,000 in construction and 4,000 in mining, according to ADP.
Service providers grew by 189,000 jobs, including 61,000 in trade/transportation/utilities and 36,000 in professional/business services, it said.
Franchise employment grew by 13,200 jobs in October, including 6,900 in auto parts and dealers, ADP said.
Industry pundits greeted the strong employment figures warmly.