Employers created surprising 165,000 jobs in October as unemployment rate dips - NBC New York

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U.S. employers created a surprising 165,000 new jobs last month and the unemployment rate dipped to 4.1%. The hiring was far stronger than the 65,000 new jobs that economists had expected. The jobs report comes three days after voters handed a stunning defeat to President Donald Trump and his Republican Party in midterm elections . Frustrated with the state of the economy — and especially the high cost of living – Americans handed full control of the U.S. Congress to the Democrats. Labor Department revisions added 84,000 new jobs in August and September. The unemployment rate fell even though 421,000 people entered the labor force. But hourly wages rose a meager 3.1% from October 2025, with many families struggling to keep up with inflation.