US employers added 165,000 jobs in October, far more than expected
US payrolls rose by 165,000 in October against forecasts near 65,000, unemployment held at 4.1 percent and markets now lean toward a December hike.
US employers added 165,000 jobs in October, according to the Bureau of Labor Statistics. Economists had expected about 65,000. The unemployment rate held at four point one percent. Earlier months were also revised up by a combined 84,000 jobs. The strong report makes an interest rate rise by the Federal Reserve in December more likely.
Professional and business services added about 70,000 jobs and health care about 42,000. Transportation, warehousing and manufacturing also grew. Average hourly earnings rose by four tenths of a percent on the month and about three percent on the year. Labour force participation stayed just under 62 percent. After the release, traders priced in a high chance of a rate rise in December and Treasury yields moved higher. That pricing is a market expectation, not a decision.
Sources
- The Employment Situation - October 2026 — US Bureau of Labor Statistics, 6 Nov 2026 (primary source)
- US Jobs Report October 2026: Payrolls Jump 165,000 — Babypips, 6 Nov 2026