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PHOENIX — The U.S. economy added 165,000 jobs in October, far exceeding Wall Street's expectations of roughly 65,000 new positions, according to the Labor Department. Do you have a concern in your community or a news tip? We want to hear from you! Unemployment fell to 4.1 percent, and wages grew 3.1 percent — the first real wage increase since last March. Despite the strong headline numbers, paychecks are still losing the race with inflation. The professional sector led job gains, adding 70,000 positions — nearly half of the total monthly increase. Health care came in second with 55,000 new jobs. Transportation, warehousing, manufacturing and government also added jobs.
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