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US Jobs Top Forecasts, Unemployment Up in Mixed Picture for Fed

  • Payrolls increased 261,000 in October while unemployment rose
  • Traders are still leaning toward smaller Fed hike in December
Bloomberg business news
US Added 261,000 Jobs in October, Far Above Estimates
Updated on

US businesses reported strong hiring and wage increases in October although the unemployment rate climbed, offering a mixed picture as Federal Reserve officials debate how long to extend their campaign to curb elevated inflation.

Nonfarm payrolls increased 261,000 last month following an upwardly revised 315,000 gain in September, a Labor Department report showed Friday. Those figures were derived from a survey of businesses, while one of households painted a weaker picture with higher joblessness, particularly among women.