Economic Buzz: US nonfarm payrolls up by 165,000 in October

Total nonfarm payroll employment in the United States increased by 165,000 in October, the Bureau of Labor Statistics said in its report published on Friday. At the same time, August's figure was revised up by 53,000 to 186,000, and September's gain was raised by 31,000 to 60,000.

The figure landed significantly above expectations. Professional and business services added 70,000 jobs, health care gained 42,000, transportation and warehousing increased by 25,000, and manufacturing added 19,000. The unemployment rate remained little changed at 4.1%, while the number of unemployed people stood at 7.1 million.

Average hourly earnings for all employees increased by 14 cents, or 0.4%, to $38.00 and were up 3.1% year-on-year. The average workweek remained unchanged at 34.4 hours.

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