U.S. job market adds 165,000 jobs, unemployment falls to 4.1%
The U. S. Labor Department said nonfarm payrolls increased by 165,000 in October and the unemployment rate fell to 4.
1%, strengthening expectations of a Federal Reserve rate hike in December. Earlier, payroll firm ADP reported that private-sector employment rose by 86,000 jobs in October, with the biggest gains in trade, transportation, utilities and education and health services. The Labor Department’s figures beat forecasts and reinforced market expectations for tighter monetary policy.