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Business & Finance

U.S. employers added 165,000 jobs in October, well above forecasts

Unemployment fell to 4.1% in October, and upward revisions raised earlier job gains.

The short version

  • U.S. employers added 165,000 jobs in October, far above the 65,000 economists polled by FactSet had predicted.[CBS News]
  • The unemployment rate fell to 4.1% from 4.2%, and August and September gains were revised up by a combined 84,000.[CBS News]
  • Professional and business services added 70,000 jobs and health care added 42,000, while home building and contracting shed more than 15,000.[CBS News · NBC News]
  • Earlier revisions show initial monthly job counts can change, so the October figure may also be revised.[CBS News]

Key facts

  • Employers added 165,000 jobs in October, versus 65,000 that economists polled by FactSet had predicted.[CBS News]
  • The unemployment rate was 4.1% in October, down from 4.2% in September.[CBS News]
  • The Labor Department revised up August and September payroll gains by a combined 84,000.[CBS News]
  • Professional and business services added 70,000 jobs and health care added 42,000 in October.[CBS News]
  • Average hourly earnings rose 3.1% from a year ago in October.[NBC News]
  • Manufacturing roles rose by 19,000 in October, according to BLS data.[NBC News]
  • Nonresidential construction jobs rose by almost 3,000, while home building and contracting shed more than 15,000 jobs.[NBC News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.