LANSING, Mich. (WLNS) - Despite the government shutdown, U.S. employers went on an unexpected hiring spree in October.
According to the Labor Department, About 204,000 jobs were created in October, about 60,000 more jobs than the previous two months. Economists say this is proof that the economy is growing.
But the partial government shutdown did impact the unemployment rate, as 450,000 furloughed federal employees were counted as unemployed, pushing the unemployment rate from 7.2 percent to 7.3.
Wall Street traders say they are not overly concerned, but others say the shutdown effects could linger, and to expect a bigger picture in the next jobs report.
2820 East Saginaw Street, Lansing, MI 48912