October US Jobs Report: 165,000 Rise in Payrolls, Beating Expectations
The unemployment rate fell to 4.1%.
The US economy added 165,000 jobs in October, according to the latest report from the Bureau of Labor Statistics. The unemployment rate fell to 4.1% from 4.2% in September.
Nonfarm payroll employment was forecast to increase by 65,000, vs. the 29,000 increase originally reported in September, according to FactSet. That September gain has since been revised up to 60,000. Meanwhile, the unemployment rate was forecast to remain steady at 4.2%.
October Jobs Report Key Stats
- Total nonfarm payrolls rose by 165,000 after rising 60,000 in September.
- The unemployment rate fell to 4.1% in October from 4.2% in September.
- In October, average hourly wages rose by 14 cents, or 0.4%, to $38.
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