US jobs market added 165,000 positions in October, unemployment 4.1%
Business
October was a strong month for US jobs: 165,000 new positions were added, blowing past the expected 59,000.
The unemployment rate dipped to 4.1%, just under forecasts, while more people joined the workforce overall.
Professional and business services lead gains
Most of the new jobs came from professional and business services (up by 70,000) and health care (up by 42,000). Transportation, warehousing, and manufacturing also saw gains.
On top of that, average hourly pay kept climbing (up 0.4% for the month and 3.1% compared to last year) while work hours stayed steady.