U.S. employers added 165,000 jobs in October, far more than expected, while unemployment was 4.1% and more people worked part time for economic reasons, according to a Nov. 6 Labor Department report.
Economists surveyed by Dow Jones had expected 59,000 jobs. The actual increase was much higher, signaling a stronger month for hiring than forecasters anticipated. Jobs increased in professional and business services, health care, and transportation and warehousing.
The unemployment rate changed little from September. It remained within the narrow 4.1% to 4.3% range it has been in since March. Another 339,000 people were working part time for economic reasons, bringing the total to 4.8 million.
These workers said they wanted full-time jobs, but their hours had been reduced or they could not find full-time work. The report also revised August and September job gains upward by a combined 84,000. The revisions offered a firmer picture of hiring in those months.
Average hourly earnings increased 0.4% in October. They were 3.1% higher than a year earlier. Together, the figures show strong job growth alongside an increase in a measure of people who wanted full-time jobs but worked part time.