US adds 128,000 jobs in October

Washington: The US labour market took a punch in October from an extended strike at General Motors but the economy continued to add jobs at a solid pace, according to official data released on Friday.

Employers added 128,000 net new jobs, well above expectations and gains in the prior months were revised up sharply, the Labor Department reported in the closely-watched monthly employment report.

Meanwhile, wages continued to climb, even as the jobless rate rose a notch to a still-low 3.6 percent, matching economists´ expectations.

Nearly 50,000 GM workers were called back to work this week following a six-week strike but not before the stoppage put a deep dent in October´s auto industry employment levels. The ranks of auto workers shrank by more than 41,000, according to the report -- the biggest drop in that sector since October 2009, when the American auto giant was at the brink of collapse.

Elsewhere hiring was resilient, averting the dire outcomes some economists had predicted, as bars, restaurants and financial services companies continued to snap up new workers.