Unemployment in the United States fell to a five-year low of 4.4 percent in October, continuing a seasonal trend of stronger-than-expected job gains, the Labor Department reported Friday. The government report showed that 125,000 positions were created, adding some 92,000 jobs to the official payrolls. The strength of the labor market means the unemployment rate fell 0.2 percent point from 4.6 percent in September. Analysts had expected the unemployment rate to remain the same in October. At the same time, the government reported that workers' wages also grew last month. The average hourly earnings rose to $16.91 in October, a sizable 0.4 percent increase from September-bringing total growth over the last 12 months to 3.9 percent. On the payroll front, job losses in manufacturing, construction and retail offset gains in professional and business services, education and health, government and elsewhere. Factories and construction companies shed the most jobs, while professional and businesses services added the most.
