US job growth surges in October; unemployment rate falls to 4.1%

Mutikani reports that U.S. employers added 165,000 jobs in October, above economists' 65,000 forecast, while unemployment fell to 4.1% and earlier payroll estimates were revised upward. Gains included health care, transportation, manufacturing, and professional services, while construction and leisure and hospitality lost jobs.

The report also shows a more mixed picture beneath the headline: part-time work for economic reasons rose, wage growth eased to 3.1% year over year, and the average workweek was unchanged.