U.S. employers added a seasonally adjusted 165,000 jobs in October 2026, well above the Dow Jones estimate of 59,000, according to Bureau of Labor Statistics figures reported by CNBC on Nov. 6. The unemployment rate fell to 4.1%, below the forecast of 4.2%.
Hiring accelerated even after an upward revision to Septemberās figures. CNBC reported that Septemberās gain rose by 31,000 to 60,000 jobs, replacing the previously reported 29,000. Octoberās figure is a preliminary estimate, subject to revision.
Where hiring and pay grew
Professional and business services led Octoberās job gains, adding 70,000 positions. Health care added 42,000 jobs, and manufacturing added 19,000, according to CNBCās account of the report.
Average hourly earnings rose 0.4% for the month and 3.1% over the year. Both exceeded forecasts, which called for increases of 0.3% and 2.9%, respectively.
The improvement in headline unemployment did not extend to every measure. CNBC reported that a broader unemployment measure, including discouraged workers and people working part-time for economic reasons, rose 0.3 percentage point to 7.9%. Labor-force participation edged higher to 61.9%, and the labor force expanded by 421,000.
Another rate increase under consideration
The report arrived as Federal Reserve policymakers weighed whether to raise interest rates again in December, with inflation still above the central bankās 2% target, CNBC reported.
