Home Economy US Economy Adds 531,000 Jobs in October

US Economy Adds 531,000 Jobs in October

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The U.S. economy created 531,000 jobs in October, more than the 450,000 economists had forecast, according to the U.S. Department of Labor.

The unemployment rate also dropped slightly from 4.8% to 4.6%, the lowest since the pandemic hit. The unemployment rate in February of 2020 was 3.5%, an historic low.

Jobs numbers for August and September were also revised upward.

President Joe Biden delivers remarks on the October jobs report from the State Dining Room of the White House, Nov. 5, 2021.

Celebrating the better-than-expected report, President Joe Biden called it “another great day for our economic recovery,” during comments Friday at the White House on the jobs report.

Most of the employment gains were in the leisure and hospitality, professional and business services, manufacturing, and transportation and warehousing sectors.

“Overall, it was a really positive jobs report but leaves some questions about the structure of the labor…

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