U.S. Hiring Picks Up and Unemployment Falls - The New York Times

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Hiring was unexpectedly strong in October, when employers added workers at a vigorous pace. Employers added 165,000 jobs last month, the Bureau of Labor Statistics reported Friday, and the unemployment rate dropped to 4.1 percent. Job gains for August and September were revised upward by a total of 84,000 positions. Average hourly earnings rose 3.1 percent compared with the same time last year. The report reaffirmed the general picture of the labor market as healthy. Employers have broadly continued to hire despite President Trump’s volatile tariff policy, the war in Iran that has cranked up energy price and uncertainty over artificial intelligence. Businesses have held onto their workers, keeping layoffs at historically low levels.