U.S. Economy Adds 128,000 New Jobs in October

- Significantly exceeding expectations, the U.S. economy added 128,000 new jobs in October. An additional 95,000 jobs in upward revisions for August and September show a stronger labor market than previously reported.

The unemployment rate remains near a 50-year low.  More than 300,000 Americans entered the labor force in October, leading to a slight uptick of the unemployment rate to 3.6%. This marks the twentieth consecutive month in which the unemployment rate has been at or below 4%.

Wages have grown at or above 3.0% for 15 straight months, including September's increased revision. The labor force participation rate climbed to 63.3%, the highest since August 2013.

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