Hiring Rebounded in October, Unemployment Rate Fell to 4.1%

The U.S. jobless rate fell to a 17-year low in October and employers hired at a strong pace, showing the labor market bounced back from recent hurricanes. Nonfarm payrolls rose a seasonally adjusted 261,000 in October, the Labor Department said Friday. September’s payroll data, initially reported as the first drop in seven years, were revised to show employers actually created 18,000 new jobs that month, extending the economy’s streak of job gains to a record 85 straight months. The pace of job creation in the U.S. remains solid despite the hit to the economy from Hurricane Harvey, which battered Texas in late August, and Irma, which hit Florida in early September. Job gains have averaged 162,000 over the past three months, a modest slowdown from a 185,000 average over the past two years. The unemployment rate fell to 4.1% in October, its lowest level since December 2000. The unemployment rate, which changed little over the course of 2016, has barreled down from 4.8% at the start of this year…

More great economic news in this Trump economy!  Excellent!!

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