Job Growth Beats Expectations: October 2026 Jobs Report - Advancing American Freedom

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Payroll employment increased by 165,000 jobs in October, while the unemployment rate dropped to 4.1 percent. Institute for Statistical Policy Analysis · Plymouth Institute for Free Enterprise TOPLINE: Payroll employment increased by 165,000 jobs in October , while the unemployment rate dropped to 4.1 percent. BACKGROUND: October delivered job growth higher than economists’ expectations, 1 with total non-farm job growth estimated to be +165,000 jobs (Fig. 1). 2 August and September jobs numbers were both revised upward by 53,000 and 31,000 jobs respectively, to an estimated +186,000 and +60,000 jobs gained.