U.S. economy added 165,000 jobs in October, way more than expected; unemployment rate at 4.1%
Hiring beat forecasts by 100,000 jobs, while the unemployment rate slipped from 4.2%, according to the Bureau of Labor Statistics.
- 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.
113 Articles
113 Articles
The U.S. economy created 165,000 jobs in October, according to data released this Friday by the Department of Labor, well above the market projection of 59 thousand. The unemployment rate fell to 4.1% in October, after staying at 4.2% in September, below the estimate of 4.2%. Subject matter exclusive to subscribers. To have full access, access the link of the subject and register.
Payroll earnings exceed 65,000 forecast; unemployment falls to 4.1%
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U.S. Added 165,000 Jobs In October; Entertainment Employment Rises
The U.S. added an unexpectedly robust 165,000 jobs in October, with the unemployment rate at 4.1%, while jobs in the entertainment industry also picked up. The Bureau of Labor Statistics has provided a snapshot of the labor market that has bounced from months of job gains to lackluster numbers or even losses this year. But […]
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