NATION
WASHINGTON Employers added the most jobs in five months in October, with the education and health care sectors leading the way.
But the unemployment rate, measured by a separate survey of households, remained stuck at 9.6 percent for the third straight month.
The Labor Department said today its survey of employers showed a net gain of 151,000 jobs last month, the most since May. Wall Street analysts expected a smaller gain.
Private employers hired 159,000 workers, while governments at all levels shed only 8,000 jobs, a much better showing than September's sharp drop.
The department also revised August and September's payroll figures higher. The private sector added 103,000 more jobs in those two months than previously estimated.
So far this year, the economy has added 874,000 jobs and over a million in the private sector. But that comes after the nation lost more than 8 million jobs in 2008 and 2009.
The job gains were concentrated in relatively few sectors: retailers added 27,900 positions, likely in preparation for the holiday season. Temporary agencies added 34,900. Restaurants and bars hired 24,400 people.
The construction industry added a small number of jobs, while the manufacturing sector shed 7,000 positions. Factory employment has been roughly unchanged since May.
Oil remained near $87 a barrel today after reaching a two-year high as the Federal Reserve's plan to buy $600 billion of Treasury bonds to stimulate the U.S. economy drove a tide of cash into stocks and commodities.By early afternoon in Europe, benchmark crude for December delivery was up 35 cents at $86.84 a barrel in electronic trading on the New York Mercantile Exchange.Earlier in the session, it reached $87.22 its highest point since Oct. 2008. On Thursday, the contract climbed $1.80 to settle at $86.49.The Fed's announcement Wednesday underlined expectations that the dollar would weaken further and push up prices for commodities including oil.The strength of the dollar and the price of oil are closely linked. The dollar has been getting weaker against other currencies for weeks, ahead of the Fed decision and some expect it to remain weak as more dollars pour into the economy.Oil is priced in dollars and becomes cheaper for holders of foreign currency when the dollar falls. That interest then boosts the price.When the dollar weakens, investors would rather hold hard assets like oil and other commodities because hard assets protect them against more weakening and against inflation.
CAPE CANAVERAL, Fla. A potentially dangerous hydrogen gas leak cropped up as NASA fueled Discovery for liftoff today, resulting in yet another delay for the space shuttle’s final voyage — possibly until the end of the month.It was the latest problem — and most serious — to hit NASA’s oldest and most traveled shuttle over the past week.Another attempt would not be made before Monday, NASA spokesman Allard Beutel said.