Temporary help jobs rose by 6,400 in October from the previous month, a drop from 31,000 added in September, according to seasonally adjusted numbers released today by the US Bureau of Labor Statistics. The year-over-year growth rate ticked down to 1.34% in October from 2.09% in September.

The number of temporary jobs in September was revised upward by 6,000.

“Though the temporary help gains in October weren’t particularly robust, the upward revision to the September number drove an uptick in the temporary penetration rate, to 2.04%,” said Andrew Braswell CCWP, senior research analyst at Staffing Industry Analysts.

October’s temporary penetration rate — temporary help services jobs as a percent of total employment — edged up to 2.040% in October from 2.038% in September.

Total nonfarm jobs rose by 161,000 on a seasonally adjusted basis, down from the gain of 191,000 in September.

Employment continued to trend up in healthcare, professional and business services, and financial activities.

“A solid increase of 161,000 jobs in October, along with upwardly revised figures in September and August, confirm that the labor market is still growing robustly, even if slower than last year,” The Conference Board stated. “This number is in line with expectations and is unlikely to affect the results of the presidential election.”

The unemployment rate edged down to 4.9% from 5.0% in September. However, the college-level unemployment rate — which can serve as a proxy for professional employment — edged up to 2.6% in September from 2.5% in September.

“Hourly earnings have grown by 2.8% during the past year, the fastest rate observed since the end of the Great Recession, and the unemployment rate fell back to 4.9%, another indication that labor markets are now sufficiently tight and firms will have to wait longer to find qualified workers for openings,” The Conference Board stated.

The Conference Board noted one sour note was that growth in core services jobs — excluding education and healthcare — slowed in October. “Still, the overall growth trend in these jobs is relatively strong. Whereas part of the decline in manufacturing and mining jobs relates to structural rather than cyclical factors, core services employment should expand over time, so continued growth in these job categories helps confirm that the labor market’s growth trajectory remains robust.”

Bloomberg reports the total nonfarm jobs increase fell short of the median forecast in its survey of economists, which called for a 173,000 increase. However, the figures are likely to keep the Federal Reserve on track to raise borrowing costs next month for the first time in 2016.

“This is a good, solid report, consistent with the fed moving in December and certainly consistent with 2 percent economic growth,” said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, NC. “Growth across wages was strong, which is going to reinforce the Fed’s view.”

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