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October Jobs Beat Estimates

October Jobs Beat Estimates

U.S. employers added an estimated 165,000 jobs in October, exceeding forecasts, while revised figures showed stronger hiring in August and September. Professional and business services, health care, transportation and warehousing, and manufacturing led gains; unemployment edged down to 4.1%, and average hourly earnings rose to $38.00. The stronger report may keep Federal Reserve officials focused on inflation, with most traders expecting a quarter-point rate increase in December, though job seekers continue to face difficult searches.

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