US economy added 165000 jobs in October as unemployment fell
The US labor market added 165,000 jobs in October while the unemployment rate dropped to 4.1 percent.
Job numbers beat forecasts
New data from the Bureau of Labor Statistics shows employment growth surpassed economist predictions for the month. The total number of new positions reached 165,000, which is higher than what analysts had forecasted.
Wages and inflation rates
Average hourly earnings rose at an annual rate of 3.1 percent during this period. Meanwhile, the annualized inflation rate stood at 3.7 percent in September before the latest release.
Layoffs decline continues
Separate tracking by outplacement firm Challenger Gray and Christmas recorded just under 44000 layoffs in October. This figure represents a 71 percent decrease compared with the same month last year.
2 outlets, different leads
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The Hill
US economy added 165,000 jobs in October, beating expectations
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The Guardian
US job growth exceeds expectations in October despite economic uncertainty
Reported by
2 independent outlets. Headlines as published. Links open the original report.