US Adds 165,000 Jobs as Unemployment Falls

The US economy added 165,000 payroll jobs in October, while the unemployment rate edged down to 4.1% from 4.2%. The Bureau of Labor Statistics released the figures on November 6, pointing to continued strength in hiring.

The job gains exceeded the 65,000 increase economists had expected. October’s result followed a stronger-than-first-counted September, when payrolls rose by 60,000; that figure had been revised upward from 29,000.

The figures arrive as the country enters a new political chapter following Democrats’ sweep in the midterm elections. They offer some reassurance about the economy, though the headline hiring numbers do not necessarily reflect how workers feel about the job market.

Household concerns about the cost of living persist. Employers are also dealing with demographic shifts, rapid AI adoption, elevated inflation and the war with Iran.