U.S. Employment Jumps Much More Than Expected In October

(RTTNews) - A closely watched report released by the Labor Department on Friday showed employment in the U.S. increased by far more than anticipated in the month of October.

The Labor Department said non-farm payroll employment jumped by 165,000 jobs in October after rising by an upwardly revised 60,000 jobs in September.

Economists had expected employment to climb by 62,000 jobs compared to the increase of 29,000 jobs originally reported for the previous month.

The report also said the unemployment rate edged down to 4.1 percent in October from 4.2 percent in September. The unemployment rate was expected to remain unchanged.