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.
- Employers added 165,000 jobs in October, soaring past expectationsCBS News - Top Stories
- The U.S. added 165,000 jobs in October, a bright spot for the economyNBC News - Top Stories
- Holiday hiring and AI in focus with October jobs report on deckNBC News - Top Stories
- Jobs report to provide latest snapshot of hiring days after midtermsABC News - Top Stories
- US job growth exceeds expectations in October despite economic uncertaintyThe Guardian - World
- A disturbing employment trend is hiding beneath the latest strong job numbersCNBC
- US continues to generate jobs, yet inflation is eroding the spending power of millions of AmericansAssociated Press
- 3 unexpected reasons the October jobs report was so strongCNBC