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US economy adds 531K jobs in October, surging past expectations

Illustration from file images

Unemployment rate fell to 4.6%

By Jonathan Garber


U.S. employers’ hiring surged in October as the number of new infections caused by the COVID-19 delta variant slowed and the expiration of extended unemployment benefits moved farther in the rearview mirror.

Nonfarm payrolls increased by 531,000 workers last month as the unemployment rate fell 0.2 percentage points to 4.6%, the Labor Department said Friday. Economists surveyed by Refinitiv were expecting the addition of 450,000 jobs and the unemployment rate to slip to 4.7%.

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