Unemployment Rate Hits 5.8% in October

Summary

Labor market conditions continue to improve gradually, with nonfarm payrolls up 214K in October. This reflects a slight deceleration from September’s 256K (revised up from 248K) but the ninth consecutive month of +200K payrolls. As expected, August’s report was revised up again, to 203K from 180K in the previous report and only 142K in the initial estimate released back in early September

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