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US Adds 165,000 Jobs as Unemployment Falls to 4.1%
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
The US economy created 165,000 jobs in October, far above the 65,000 expected by economists, while unemployment edged down to 4.1%. Professional and business services led hiring, followed by healthcare, transport, warehousing and manufacturing.
The US economy created 165,000 jobs in October, far above the 65,000 expected by economists, while unemployment edged down to 4.1%. Professional and business services led hiring, followed by healthcare, transport, warehousing and manufacturing.
Earlier job estimates were also revised higher and average hourly earnings rose 0.4% during the month. The strength gives the Federal Reserve evidence that the labor market can withstand tighter policy, although persistent inflation complicates the outlook for borrowing costs.
Y.Slowik--GL
