US Economy Adds Better-Than-Expected Jobs in October

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US Economy Adds Better-Than-Expected Jobs in October

As per the recent statistics released from the Labor Department, it has been found that the US economy added 204,000 jobs in the month of October. The figure is much better than it was supposed to be.

Last month, the 16-day shutdown of government services might have put some impact on the increase in jobs. As per the recent figures, it has been observed that the rate of unemployment have reached up to 7.3% as compared to the rate in month of September, which was 7.2%.

Probably, this may be because of shutdown which resulted in unemployment of several federal workers, says the Labor Department.

The report revealed that an additional 60,000 jobs were added by the companies in the month of September and August as compared to the earlier estimate. The most recent statistics puts in an optimistic week for US economic data.

It was declared that the economy of the US emerged out with recovered annual pace of 2.8% in the third quarter.

Chris Williamson said, "Analysts were expecting a mere 125,000 rise".

The Commerce Department said that as per GDP statistics of Thursday, the growth has been increased because of increase in exports and a lift in building of residences. In the second week of October, Lockheed Martin Corp. (LMT) puts 2,400 employees on leave. The company an amount of $36.9 billion in government deals in 2012.


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