U.S. added 165,000 jobs in October as 'blowout' report trounces expectations
Yahoo! Newsvia NewsData.io
The US added 165,000 jobs in October, blowing past economists' expectations, as the labor market showed strength despite the Federal Reserve's recent rate hikes. The unemployment rate ticked down to 4.1% even amid a slight increase in labor force participation. September's underwhelming jobs report of 29,000 additions was also revised upward to a gain of 60,000 jobs. Heather Long, chief economist at Navy Federal Credit Union, deemed the results "a blowout" in a post on X. Economists surveyed by Bloomberg projected a gain of about 70,000 jobs in October and saw the unemployment rate holding ste
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