11/5/2021, 1:30 PM (Source: TeleTrader)
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US nonfarm payrolls up by 531,000 in October

Nonfarm payrolls in the United States increased by 531,000 in October, exceeding expectations of around 425,000. The unemployment rate dropped to 4.6% or 7.4 million, 0.1 percentage points lower than forecast and down by 0.2 percentage points from September.

The labor force participation rate was unchanged from September at 61.6%. Employment in leisure and hospitality increased by 164,000 in October, professional and business services added 100,000 jobs, while manufacturing was up by 60,000. Local and state government education decreased the most, at 43,000 and 22,000 respectively.

Baha Breaking the News (BBN) / DJ