US Adds 165,000 Jobs in October as Unemployment Holds at 4.1%
The US economy added 165,000 jobs in October 2026, according to the Bureau of Labor Statistics, the federal agency that compiles the country's employment figures. The bureau released the monthly report on Friday, November 6, and the unemployment rate for October was 4.1%.
Job gains in October were concentrated in healthcare, transportation, warehousing and manufacturing. The initial estimates for August and September were revised up by a total of 84,000 jobs, meaning the economy added more jobs in those two months than first reported.
The unemployment rate has moved within a narrow band in recent months. It was 4.1% in August and 4.2% in September, and the Bureau of Labor Statistics has said it stayed between 4.1% and 4.3% since March 2026. Earlier in the year the picture was weaker. In February, the economy shed 92,000 jobs and the unemployment rate rose to 4.4%.
Wages rose at an annual rate of 3.1% in October, according to the same report. Inflation, measured as an annual rate, was 3.7% in September.
Job cuts announced by employers were lower than a year earlier. The outplacement firm Challenger, Gray & Christmas, which tracks layoffs, recorded just under 44,000 in October, a 71% decrease from October 2025.
Interest rates have also been in focus. The Federal Reserve, the US central bank, which sets a benchmark rate that influences borrowing costs across the economy, raised rates in September to a range of 3.75% to 4%. It was the first increase since 2023. At its October meeting, the Fed kept rates steady.
