The U.S. economy added 165,000 nonfarm payroll jobs in October, blowing past analysts’ predictions and driving down the unemployment rate, the U.S. Bureau of Labor Statistics (BLS) reported Friday.
The 165,000 jobs added in October more than doubled economists’ expectation of a 65,000 gain and more than tripled the 48,000 average monthly growth of the previous 12 months.. Meanwhile, job growth in August and September was revised higher by a combined total of 84,000, increasing August’s gain by 53,000 (from 133,000 to 186,000) and September’s by 31,000 (from 29,000 to 60,000).
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