Economics
Payrolls in U.S. Rose 214,000 as Unemployment Drops to 5.8%
It indicates companies are optimistic the U.S. economy will withstand a slowdown in some overseas markets.
Employees wait to greet job seekers during a Kroger Co. Hiring Fair at one of the company's grocery stores in Lexington, Kentucky, U.S., on Wednesday, Oct. 8, 2014.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The American labor market is powering past a global slowdown as unemployment decreased to a six-year low in October and 214,000 workers were added to payrolls.
The jobless rate fell to 5.8 percent, the lowest since July 2008, from 5.9 percent in September, Labor Department figures showed today in Washington. The increase in hiring last month followed a 256,000 advance that was larger than first estimated as job gains head for their best showing in 15 years.