Payrolls Up 56,000 in September, Unemployment Rate
Washington, DC, November 4, 2005—The unemployment rate fell to 5% in October from the 5.1% recorded in September as 56,000 jobs were added to the economy during the month, according to the Bureau of Labor Statistics. Job creation in September was revised to reflect a loss of 8,000.
Economists were expecting gains of about 102,000 in October.
Kathleen Utgoff, commissioner of the Bureau of Labor Statistics, said the relatively weak payroll increase was not attributable to areas directly affected by Hurricane Katrina. "Rather, job growth in the remainder of the country appeared to be below trend in October," Ms. Utgoff said. September weakness was largely due to job loss in areas devastated by Katrina, she added.
Ms. Utgoff said the direct impact of Hurricane Rita on the data was minimal. "It is possible, of course, that employment growth for the nation could have been held down by indirect effects of Hurricanes Katrina and Rita, for example, because of their impact on gas prices," she said.
