Labor Dept Reports 531,000 New Jobs In October

Bloomberg News reports:

The U.S. labor market got back on track last month with a larger-than-forecast payrolls gain, indicating greater progress filling millions of vacancies as the effects of the delta variant faded. Nonfarm payrolls increased 531,000 last month after an upwardly revised 312,000 gain in September, a Labor Department report showed Friday. The unemployment rate fell to 4.6% while the labor force participation rate was unchanged.

Read the full article. Excellent news for Biden as the House prepares to vote on the Build Back Better Act.

EMPLOYMENT WATCH: U.S. created 531,000 jobs in October. Above 450,000 MarketWatch forecast. U.S. unemployment rate drops to 4.6% from 4.8%. Aug-Sep job gains also a lot stronger than initially reported. Digging into details, good report, but labor force participation still weak.

— Jeffry Bartash (@jbartash) November 5, 2021

BREAKING: October jobs report: Payrolls grew by 531,000 as unemployment rate fell to 4.6% https://t.co/zn9T5xohv0 by @emily_mcck pic.twitter.com/08EmsDAOPi

— Yahoo Finance (@YahooFinance) November 5, 2021

October jobs report beats expectations with 531,000 new payrolls as the Delta variant fades away https://t.co/31CJSuCSIf

— Business Insider (@BusinessInsider) November 5, 2021