/Employers add 531,000 jobs last month as recovery gains steam, unemployment rate falls to 4.6%

Employers add 531,000 jobs last month as recovery gains steam, unemployment rate falls to 4.6%

The latest Labor Department report comes after months of slow hiring.

Hiring gained steam in October, with U.S. employers adding 531,000 jobs and the unemployment rate edging down by a fraction of a percentage point to 4.6%, the Department of Labor said Friday.

Job growth was widespread — with major gains in leisure and hospitality, professional and business services, manufacturing, and in the transportation and warehousing sectors — the DOL said, indicative of the the post-pandemic recovery gaining steam in the labor market after months of disappointing hiring figures.

The pre-pandemic unemployment rate in February 2020 was 3.5%.

This is a developing story. Please check back for updates.

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