The U.S. added 261,000 jobs in October, the Bureau of Labor Statistics reported Friday. The unemployment rate ticked up from 3.5% to 3.7%. See potential bias and similarities in coverage from nypost, YahooNews and CNBC: Jobs Economy
Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a relatively strong labor market.
Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the Labor Department reported Friday. Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs, but worse than the 3.5% estimate for the unemployment rate. Although the number was better than expected, it still marked the slowest pace of job gains since December 2020.
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