The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

According to the Labor Department, 104,000 private sector jobs were added to the U.S. economy in October, while state governments were largely responsible for a loss of 24,000 positions in the public sector. Nonfarm payroll employment rose 80,000 in October and the unemployment rate fell from 9.1 to 9.0 percent. While the total job gain was lower than that of the last few months, there have been substantial upward revisions in recent months. September’s private sector gain, for example, was originally reported at 137,000 and was subsequently revised up to 191,000 in the Labor Department’s most recent report.

October’s job growth was concentrated on service-providing industries with specific gains in food service and drinking establishments, healthcare facilities, and administrative and support services. While less substantial, a gain of 10,000 general merchandise retailer positions is an additional positive indicator for an industry closely affected by consumer confidence. After significant gains in recent months, non-residential specialty trade contractor employment fell by 22,500 positions, the largest loss of any industry during the month.

The unemployment rate for those who hold a four-year college degree and higher rose sharply from 4.2 percent to 4.4 percent. While the gain is attributable to an increase in unemployed candidates—up 73,000 during the month—total employment of such degree holders also increased, albeit at a slower rate of just 20,000. The unemployment rate for those working in management, professional and related occupations fell from 4.5 to 4.4 percent year over year. Meanwhile, the unemployment rate among sales and related occupations, which spiked early in the recession, has fallen from 9.1 to 8.2 percent year over year.

A slight decline in the duration of unemployment in October may indicate a positive shift that will hopefully continue. The mean duration of unemployment fell from 40.5 to 39.4 weeks while the median fell from 22.2 weeks to 20.8. Both of these measures have been steadily rising for more than three years, and these drops pull them back to their levels of more than six months ago.

Even when factoring in continued losses in the public sector, the last three months have seen total average job gains in excess of 110,000 a month, a rate exceeding U.S. population growth. On the whole, the most recent employment measures show a labor market that is holding its own with pockets of growth, pockets of stability, but just one consistent area of decline—the public sector, which is the only substantial source of job losses.

The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

According to the Labor Department, total employment growth beat economists’ estimates in September, rising by 103,000 positions overall and 137,000 in the private sector. The public sector cut 34,000 positions, mostly from local education. The unemployment rate in September stayed flat at 9.1 percent. Job growth in August has been revised up from an initially-reported zero to a gain of 57,000 positions.

Of the private sector gains in September, 37,000 positions came from the telecommunications sector, which recorded a loss of 47,300 the month before as a result of a work stoppage at Verizon Communications’ landline division. Since the return of these positions had already been known to be a near certainty by economists, the gains in excess of the projections become even more dramatic.

The four-year degree unemployment rate fell from 4.5 percent a year ago and 4.3 percent in August to 4.2 percent in September. The management, professional, and related occupations unemployment rate remained flat year-over-year at 4.4 percent.

Outside of telecommunications, a few sectors saw meaningful levels of growth. Commercial construction saw a jump as nonresidential building construction added 13,200 positions and nonresidential specialty trade contractors added 10,700 jobs. Additionally, heavy and civil engineering construction added 6,200 jobs for a net growth in the construction industry of 26,000 positions.

A variety of retailers saw modest employment gains, including food and beverage, health and personal care, and general merchandise stores. In total, retail trade added 13,600 positions, a relatively small gain on its 14.5 million workers, though the types of stores that are seeing gains is telling. The rate of hiring of temporary and contract labor also increased, adding 19,400 postions in September.

September’s numbers may be tepid, but they are an improvement over the general mood during much of September. They indicate an economy where companies are investing in construction and retailers of non-durable consumer goods are seeing reasons to add staff.

JT Westendorf, Executive Search Consultant, is pleased to announce the following placement with Credit Union One: Tamara DePonio as Branch Manager for the Traverse City, Michigan branch. Credit Union One has 19 branches located throughout Michigan with 117,000 plus members.

Megan Uphoff, Managing Director, teamed up with Mark Angott, President, and they are pleased to announce several placements: Michael Blackburn as Commercial Relationship Manager and Marie Duprey as Regional Credit Analyst.. Flagstar is excited to welcome these individuals to their Michigan team!

Flagstar is a community bank with 162 banking centers in Michigan, Indiana and Georgia. Chartered in 1987 as a federal savings bank, today Flagstar has assets in excess of $12.7 billion.

Quentin Burchill, Managing Director of the Energy Practice, pleased to announce the placement of Kevin Shiau with First Solar, Inc. (FSLR) in New York City. He has many successful achievements throughout his career and is excited to be joining the team as he assumes an Analyst role in First Solar’s project finance group.

Brian Rhonemus, Managing Director, teamed up with Mark Angott, President, to successfully complete the placement of Mr. Rich Russo with Isabella Bank.  Mr. Russo has accepted the role of Division President and he will be based in Greenville, MI.

Tom Blackwell, Director, successfully completed a search for an Information Security Manager for Midland States Bank.  Bradley Schaufenbuel has accepted this position and he is excited to be joining this $2bb bank located in Effingham, Illinois.

Brian Rhonemus, Managing Director, and Beth Grossman, Director, are pleased to announce the placement Mr. Michael Gheen into a VP Retirement Planning Manager role with Peoples Banking & Trust, a $2 billion regional community bank in southeast Ohio. This diversified financial products and services company offers a complete line of banking, investment, insurance, and trust solutions to over 45 locations in Ohio, West Virginia, and Kentucky.

 The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

According to the Labor Department, gains of 17,000 positions in private sector employment were offset by a loss of 17,000 public sector workers in August, mostly from local education. The approximately 45,000 union workers who participated in a work stoppage in August contributed to a total of 47,300 telecommunications positions lost during the month—jobs that are expected to return in full in September’s numbers. The unemployment rate remained at 9.1 percent.

Industry-specific job losses were broad-based with telecommunications the only space seeing a significant loss. The countering job gains, however, were more concentrated. Computer system design and related services added 7,700 positions, temporary help services added 4,700 positions, and healthcare added 29,700 positions.

The numbers are unlikely to provide the shot of confidence that global markets need, yet, as is often the case, the top-line figures belie some of the details. The management, professional, and related occupations unemployment rate fell year-over-year from 5.1 to 4.9 percent. Meanwhile, total employment for those with a four-year degree rose by 131,000 in August and by more than 1 million in the last year.

While many industries did see losses in their total employment, it would be unwise to consider it an indication of the return of large-scale layoffs. The decrease in many sectors could be attributed to employers simply not filling many positions that became open during a month where uncertainty seemed to loom around every corner. In fact, the increase in four-year degree employment points to the willingness of employers to fill their more highly skilled and educated positions, even while leaving other roles unfilled.