US adds 165,000 jobs in October, beating economist forecasts
The unemployment rate fell to 4.1% as the labour market showed resilience despite economic headwinds.
At a glance
- US economy added 165,000 jobs in October, surpassing economist expectations
- Unemployment rate fell to 4.1%
- Labour market described as "low-hire, low-fire" with sluggish growth but few layoffs
The United States added 165,000 jobs in October, exceeding economist expectations, according to data released on Friday by the Bureau of Labor Statistics. The unemployment rate declined slightly to 4.1%.
Economists have characterised the labour market as being in a "low-hire, low-fire" state, with sluggish job growth offset by relatively few layoffs. The October figures suggest the market is holding up amid broader economic uncertainty.
Why it matters
The figures indicate the US labour market is maintaining resilience despite ongoing geopolitical tensions and inflation concerns.
Original reporting
- The Guardian — BusinessUS job growth exceeds expectations in October despite economic uncertainty
This brief was written with AI assistance from the reports listed above and checked against our editorial policy. Spotted an error? Request a correction.
