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Employers added 165,000 jobs in October, and the unemployment rate fell to 4.1%, according to reports on the government data. August and September job gains were revised upward by a combined 84,000, while the average time unemployed workers spent looking for work exceeded 27 weeks.
HOW THIS BRIEF WAS MADE 20 outlets: 1 official · 13 national · 3 international · 3 trade press. Automated sourcing and summaries by the BLUF engine. Corrections
The report affects workers, employers and the Federal Reserve’s assessment of the economy; a stronger labor market may influence interest-rate decisions, though officials have not made a decision based on this report. Residential construction employment fell by 16,400 in October, according to NAHB Eye on Housing.