120,000 Jobs Created Last Month, Unemployment Falls To 8.6 Percent

According to the latest data from the Bureau of Labor Statistics, 120,000 jobs were created last month, bringing the unemployment rate down to 8.6 percent. Analysts had predicted job growth of about 130,000. 140,000 private sector jobs were created, while the public sector continued to shed jobs, losing 20,000. 72,000 jobs were added as revisions to previous reports, including a revision in the September number from 158,000 jobs created to 210,000 jobs created. The wider U6 measure of underemployment dropped from 16.2 percent to 15.6 percent.