According to an analysis of payroll data, the job market (finally) is showing signs of growth. Much of the growth comes from an increase in service-related jobs — 134,000 new service employees were hired in October. October was also a month where non-farm private employment grew — by 106,000 jobs. Compare that to growth in the sector between July and September, which averaged 43,000 jobs per month.

The Commerce Department is also expecting growth. Instead of the original expected gross domestic product rate of 3.1%, the newest figure comes to 3.9%.

However, construction continues to be an area of weakness. Because of the slump in the housing market, builders are building less and therefore hiring less. Employment in this sector fell by 16,000 jobs.


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