Friday's jobs report: U.S. employers added 165,000 jobs in October

U.S. employers added an estimated 165,000 jobs in October, comfortably exceeding economists' expectations, according to the Labor Department's report released Friday. The unemployment rate edged down to 4.1% from 4.2% in September.

This is Friday's economic report, included as context in Saturday's roundup rather than presented as a new Saturday release. The figures describe employment during October, not the number of jobs created on the day the report was published.

The government also revised its estimates for earlier months upward. August's increase is now estimated at 186,000 jobs, and September's at 60,000. Together, the revisions added 84,000 jobs to the previously reported totals, suggesting hiring had been stronger than the first estimates showed.

Professional and business services led October's gains, followed by healthcare. Manufacturing and transportation and warehousing also added jobs. The breadth of the increase contrasted with periods when hiring had depended heavily on the healthcare industry.

Average hourly earnings rose 3.1% over the year. That remained below the latest available annual consumer-price increase of 3.7%, which covered the year through September. The wage and inflation figures refer to different reference months and should not be mistaken for a single October inflation reading.

The report offered evidence of labor-market resilience, but one month's stronger hiring does not settle questions about affordability or the experience of people searching for work. Payroll estimates can also be revised as more information arrives.