U.S. economy added 165,000 jobs in October, way more than expected; unemployment rate at 4.1%
The gain far exceeded economists’ forecasts, and revisions added 84,000 jobs to August and September, signaling a sturdier labor market.
- The Bureau of Labor Statistics reported Friday that the economy added 165,000 jobs in October, surpassing the FactSet consensus forecast of 65,000 while the unemployment rate fell to 4.1% from 4.2%.
- Hiring in September was upwardly revised to 60,000 from 29,000, signaling stronger momentum than initially reported and providing reassurance for an economy entering a new political chapter following the Democrats' midterm election sweep.
- Despite robust job gains, households face persistent cost-of-living concerns while employers navigate rapid AI adoption, elevated inflation, and the ongoing war with Iran simultaneously.
- Market sentiment turned negative as The Nasdaq Composite fell below its 200-day moving average for the first time since April, reflecting sharp declines in SP500 and SPX equities that dampened trading activity.
- Currency strength persists at its best level against many G10 pairs since Tuesday's midterm elections, trading within recent ranges and setting session lows ahead of $1.1200 before option expiration.
389 Articles
389 Articles
The United States created 165,000 jobs in October, surpassing forecasts. Health, manufacturing and professional services boosted recruitment
October Jobs Report Crushes Economists’ Expectations: New Jobs More Than Double Projection, Unemployment Drops * The Gateway Pundit * by V. Saxena, The Western Journal
New economic data published on Friday showed that the economy wildly outperformed the forecasts of experts.
US Dept of Labour delivers 'solid' job report following stunning midterm defeat for Republicans
WASHINGTON (AP) — The United States unemployment rate dipped to 4.1 per cent as American employers created 165,000 new jobs last month. Further, a combined 84,000 new jobs were added to the August and September totals following revisions by the Department of Labour. The disclosures were included in the latest jobs report from the Labour Department. It comes three days after voters delivered a stunning defeat to President Donald Trump and his Rep…
U.S. Adds 156,000 Jobs in October, Unemployment Steady at 4.1 Percent
The U.S. economy added 156,000 jobs in October and unemployment remained steady at 4.1%, according to a new report from the Bureau of Labor Statistics released Friday. The unemployment rate has remained in a narrow range between 4.1% and 4.3% since March. Employment in professional and business services shot up by 70,000 in the month of October, well above the 15,000 job monthly average over the last year.
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