By Alicia Wallace, CNN
(CNN) — Job growth surpassed expectations in October, new data showed Friday, with the US economy adding 165,000 jobs.
The unemployment rate fell to 4.1% from 4.2%, according to Bureau of Labor Statistics data released Friday.
Job growth was expected to pick up from September, when 60,000 jobs were added (the month’s tally was upwardly revised from 29,000). The consensus forecast called for monthly gains of 65,000 jobs and a 4.2% unemployment rate, FactSet estimates show.
The better-than-expected hiring offers some reassurance for an economy entering a new political chapter after the Democrats’ sweep in the midterm elections.
The cost of living remains a major concern for households, while employers are navigating demographic shifts, the rapid adoption of AI, persistently elevated inflation and the war with Iran. And a job market that appears healthy does not necessarily feel that way to workers.
This story is developing and will be updated.
The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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