Twice As Many New Jobs In October As Economists Expected

The news John Challenger said to watch out for came this morning when the Bureau of Labor Statistics released its most bullish report on job creation since May. The report said 166,000 jobs were created in October, twice what economists had expected.

Challenger, CEO of outplacement firm Challenger, Gray & Christmas, said Thursday to watch the economic developments this month before deciding whether his jobs optimism needed revising. He spoke with us mere hours after news of fresh layoffs seemed to eclipse the optimistic job cuts prediction in the firm’s monthly report.

Today’s employment report shows the jobs created in October were the third highest of the year behind May’s 190,000 and the 175,000 in March.

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As you might have expected, manufacturing and construction continued to lose jobs, while the service sector, especially tourism and business services, created 190,000 new jobs.

Wall Street barely noticed.

John Zappe is the editor of and a contributing editor of John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.


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