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Money

U.S. employers added 165,000 jobs in October, beating forecasts

Hiring was much stronger than expected, unemployment slipped to 4.1%, and hourly pay rose 3.1% over the year.

BrieflyTold Desk · · 1 min brief

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The brief

  • ■Nonfarm payrolls rose by 165,000, far above the 59,000 forecast.
  • ■The unemployment rate edged down to 4.1%.
  • ■Average hourly earnings rose 0.4% in October and 3.1% over the year.

Why it matters

A stronger job market can mean more openings and pay growth, but it also shapes the Federal Reserve’s next decisions on borrowing costs.

The full story

The Bureau of Labor Statistics reported Friday that nonfarm payrolls rose by a seasonally adjusted 165,000 in October. The total was well above the 59,000 economists expected, while unemployment slipped to 4.1% from the 4.2% forecast.

Job gains came in professional and business services, health care and manufacturing. Average hourly earnings rose 0.4% for the month and 3.1% over the year. August and September payroll estimates were also revised upward by a combined 84,000.

Topics

october 2026 jobs reportus economy added 165000 jobsunemployment rate 4.1october hiring and wagesbls jobs report todayus job growth october

Sources

  • CNBC
Read the original reporting ↗

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