As reported by the Bureau of Labor Statistics Friday, employers added 171,000 net new jobs to the U.S. economy in October 2012 as the national unemployment rate rose 0.1 to 7.9 percent. The Unemployment Rate rose amid rising jobs data because more than one-half million new workers entered the workforce last month.

In addition, the Non-Farm Payrolls figures were revised higher from August and September, adding another 84,000 jobs to the final job market tally.

Mortgage rates are improving on the news.

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U.S. Economy : 25 Straight Months Of Job Growth

The October jobs report surprised analysts, who had expected to see just 125,000 net new jobs added to the economy in October. The U.S. economy has now added jobs through 25 consecutive months.

Between 2008-2009, the economy shed 7.3 million jobs. Since then, it's regained 60% of them.

Other statistics from the October 2012 Non-Farm Payrolls report included :

63.8 percent of the eligible U.S. population is either working or looking for work
5.0 million workers have been without a job for 27 weeks or more, down from 5.4 million in June
Private business added 184,000 jobs in October; governments cut 13,000 jobs
The number of workers "eligible to work" but not looking is down 154,000 from October 2011
On average this year, the U.S. economy has added 157,000 jobs per month.

And, in a special note, the Bureau of Labor Statistics said that Hurricane Sandy had little effect on employment figures for October. It remains to be seen, however, what the storm's short- and long-term impact on the jobs market will be.

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