U.S. economy adds 531,000 jobs in Oct., beats market expectation

Economy

The U.S. economy added 531,000 jobs in October, while the unemployment rate dropped 0.2 percentage point to 4.6 percent, Labor Department data showed Friday. Growth in nonfarm payrolls exceeded the market consensus of an increase of about 450,000. The data came before the U.S. Federal Reserve begins scaling back a massive bond-buying program later this month in a further shift toward normalization of its monetary policy as the country's economy continues to recover from the coronavirus pandemic. The Labor Department revised upward the nonfarm payroll growth reported for September from 194,000 ...

Kyodo News

Kyodo News