US adds 165,000 jobs in October, beating 65,000 forecast

Key facts

• The US added 165,000 jobs in October, above the 65,000 economists had expected, the BLS reported.
• Unemployment fell to 4.1%, while economists had expected it to hold at 4.2%.
• Average hourly earnings rose 0.4% in October, a 14 cent increase, and 3.1% year over year.
• Professional and business services added 70,000 payrolls, above its previous average of 15,000.
• Healthcare added 42,000 roles, above its average of 31,000 monthly payrolls.
• August and September added more jobs than the BLS previously estimated.

The US economy added 165,000 jobs in October, the Bureau of Labor Statistics reported on November 6, 2026, well above the 65,000 gain economists had expected. The unemployment rate fell to 4.1%, while economists had expected it to hold at 4.2%. The BLS also revised August and September payrolls higher than previously estimated.

Average hourly earnings rose 0.4% over the month, a 14 cent increase, and were up 3.1% from a year earlier. The report said gains over the past six months have been outpaced by rising prices. A consumer price index report is due the following week.

Professional and business services added 70,000 payrolls, above its previous average monthly gain of 15,000. Administrative and support workers added around 24,000 jobs and consulting added around 17,000. Healthcare added 42,000 roles, above its average 31,000 monthly payrolls.

Steve Rick, chief economist at TruStage, said: "One good month doesn't undo a slowdown, just as one weak month doesn't necessarily signal trouble ahead." Ger Doyle, regional president of North America at ManpowerGroup, said demand is picking up in parts of the economy but needs to spread into more industries. Lindsay Rosner, head of multi-sector fixed income investing at Goldman Sachs Asset Management, said the payroll number "removed the traffic light at the December intersection for the Fed." Clark Bellin, president and chief investment officer at Bellwether Wealth, said the stronger-than-expected report could help improve overall stock market sentiment.