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US Jobs Report Surpasses Expectations in October
· Confirmed
In Short: The US economy added 165,000 jobs in October, a figure that far surpassed economists' expectations of around 65,000 new jobs, according to the Bureau of Labor Statistics (BLS).
The unemployment rate fell to 4.1% from 4.2% in September, defying expectations that it would remain steady. Economists had predicted the rate would hold at 4.2%.
The job market showed strength across various sectors, with professional and business services leading the way by adding 70,000 jobs, followed by health care, which added 42,000 jobs.
Transportation and warehousing have added 104,000 jobs since February, and manufacturing has added 101,000 jobs since December 2025, indicating a robust recovery in these industries.
The BLS revised employment figures for August and September upward by a combined 84,000 jobs, suggesting the labor market had performed better than initially reported.
The October jobs report is strong on every level, with a huge surge in hiring, a drop in the unemployment rate to 4.1%, and over 400,000 people entering the labor force to search for work.
The Federal Reserve left interest rates unchanged in October after raising them in September to 3.75%–4%, citing inflation. However, the probability of a rate hike in December has risen to 68.1% based on market expectations.
Nicole Bachaud, a labor economist at ZipRecruiter, noted that long-term, fewer jobs may be needed to maintain stable employment due to an aging workforce, low birth rates, and reduced immigration.
The robust job growth in October, combined with the upward revisions to previous months, pushed the three-month average to 137,000 jobs per month, well above the 40,000 jobs economists say are needed to keep up with population growth.
The October jobs report offered the first glimpse of labor market strength after the 2026 midterm election, providing a positive snapshot of the economy's health.
Experts believe the strong jobs report gives the Fed the ability to tackle inflation without seeing major effects on the labor market.
The latest interest rate market pricing shows that the probability of the Fed raising rates by another 25 basis points in October has risen to 68.1%.
The economy's performance in October signals a revival after a sluggish 2025, when employers added an average of just 10,000 new jobs per month.
What this adds
The October jobs report showed a significant increase in employment, far exceeding economists' expectations.
The strong job growth in October and the upward revisions to previous months' figures paint a picture of a recovering labor market.
The Federal Reserve's decision to leave interest rates unchanged in October reflects its cautious approach to managing inflation while supporting economic growth.
Background
The US economy added 165,000 jobs in October, far surpassing economists' expectations of 65,000 new jobs, according to the Bureau of Labor Statistics (BLS).
The U.S. economy added 165,000 jobs in October, exceeding economists' forecasts of around 65,000 new jobs.
What's confirmed
- The Bureau of Labor Statistics on Friday reported that employers added 165,000 jobs in October.
- The U.S. economy added a robust 165,000 jobs in October, far exceeding economists’ expectations, the Labor Department reported Friday.
- WASHINGTON, D.C. — The U.S. economy delivered a stronger-than-expected jobs report in October, with employers adding 165,000 jobs as the unemployment rate declined.
- Separately, payroll processor ADP reported Wednesday that private employers added 86,000 jobs in October, marking the second consecutive month of solid hiring.
What's still developing
- Hiring came in much hotter than expected, with economists polled by FactSet predicting the economy added 65,000 new jobs last month.
- Through October, payroll gains in 2026 have averaged around 86,000 a month.
- The long-term unemployment rate — the share of workers who are unemployed for 27 weeks or longer — rose to 27.6% in October, from 27.1% the month prior.
- U.S. employers added 29,000 jobs in September, down from a gain of 133,000 in August and lower than the 84,000 forecasters had anticipated, the Bureau of Labor Statistics said Friday.
- Private companies created more jobs than expected in September, according to the latest figures.
- Expectations are extremely low for the visit, according to people close to Kremlin.
- Staying healthy has been the biggest struggle for the Cougars thus far in an otherwise successful start to the year, as they head into October as a top-10 team with College Football Playoff aspirations.
- 1:00 pm October 9, 2026 By Roland Hutchinson Apple’s October event is generating significant anticipation, promising a range of product announcements that could reshape its ecosystem.
- Estimates had ranged widely, from 35,000 to 125,000.
- According to the Bureau of Labor Statistics, the economy added 165,000 jobs last month, significantly exceeding the 65,000 jobs forecast by economists surveyed by LSEG.
- Bolsonaro's result exceeded expectations, meaning the second round now looks like his to lose, given some of the other presidential candidates knocked out in the first round were right-wing alternatives.
- Several factors are weighing on gold prices, including profit-booking by investors, improved returns on dollar-denominated investments and bonds, and expectations of a possible interest rate hike by the US Federal Reserve at its December monetary policy meeting Kochi: Gold prices have witnessed a sharp decline in international markets, raising questions over whether the downward trend will continue in the coming days.