Employers added 165,000 jobs in October as labor market shows strength

Updated on: November 6, 2026 / 8:50 AM EST / CBS News

Employers across the U.S. added 165,000 jobs in October, soaring past economists' forecasts and signaling that hiring is accelerating despite headwinds such as inflation.

Hiring came in much hotter than expected, with economists polled by FactSet predicting the economy added 65,000 new jobs last month. The unemployment rate stood at 4.1% in October, dipping from 4.2% in the prior month.

The Labor Department on Friday also revised up payroll gains for August and September by a combined 84,000, a sign that hiring those months was more robust than previously reported.

Hiring is showing signs of revival after a sluggish 2025, when employers added an average of just 10,000 new jobs per month.

Those looking for work might face challenges locking in a position. But on the whole, the job market is healthy, Ryan Sweet, chief global economist at Oxford Economics, said during a conference in New York on Wednesday ahead of the latest job figures.

"All signs point to a solid labor market, even if it is difficult for pockets of workers," he said.

Original source: https://www.cbsnews.com/entertainment/