October hiring surprises as employers added 165,000 jobs, while labor market shows strength
October hiring beats forecasts
Employers across the United States added 165,000 jobs in October. Economists surveyed by FactSet had expected 65,000 new positions, making the reported increase much stronger than anticipated. The unemployment rate was 4.1%, down from 4.2% in the previous month. The report also showed that earlier payroll growth was stronger than first reported.
Earlier gains revised higher
The Labor Department revised August and September payroll gains upward by a combined 84,000. The changes indicate that hiring in both months was more robust than earlier estimates suggested.
The latest figures follow a sluggish 2025, when employers added an average of 10,000 jobs per month. October’s increase points to a revival in hiring.
Job market remains uneven
People looking for work may still face difficulty securing a position, even as the overall market appears healthy. Ryan Sweet, chief global economist at Oxford Economics, spoke about the labor market at a New York conference on Wednesday, before the latest figures were released.
Key points
- Employers added 165,000 jobs in October, against a FactSet forecast of 65,000.
- The unemployment rate fell to 4.1% from 4.2% in the prior month.
- August and September payroll gains were revised up by a combined 84,000.
- Hiring averaged 10,000 jobs per month in sluggish 2025.