US employers added a surprising 165,000 jobs in October as the unemployment rate dipped to 4.1%

Summary

U.S. employers created a surprising 165,000 new jobs last month, and the unemployment rate dipped to 4.1%, The Philadelphia Inquirer, the LA Times and PBS NewsHour reported on Friday 6 November, Bloomberg writing that the figure topped all forecasts after an upward revision to the prior two months, that average hourly earnings advanced and that job gains were broad across sectors, led by increases in professional and business services and healthcare. NBC News called the October gain a bright spot for the economy, showing that a labor market which has troubled consumers for much of the year remained stable, but did not gain momentum. The strong job gains will likely be seen at the Federal Reserve as further confirmation that with hiring healthy, policymakers can continue to focus on combating inflation, the Inquirer reported, the Inquirer and PBS NewsHour headlining that inflation is eroding Americans' spending power.

Latest: U.S. employers created a surprising 165,000 new jobs in October and the unemployment rate dipped to 4.1%, The Philadelphia Inquirer, the LA Times and PBS NewsHour reported, Bloomberg writing that the figure topped all forecasts after an upward revision to the prior two months and NBC News calling it a bright spot for the economy.

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