The FINANCIAL — Job growth in the U.S. showed a substantial reacceleration in the month of October, according to a report released by the Labor Department on November 6.
The report said non-farm payroll employment jumped by 271,000 jobs in October following a downwardly revised increase of 137,000 jobs in September, according to Nasdaq.
Economists had expected an increase of about 185,000 jobs compared to the addition of 142,000 jobs originally reported for the previous month.
The strong job growth helped push the unemployment rate down to 5.0 percent in October from 5.1 percent in September, matching economist estimates.
With the modest decrease, the unemployment rate fell to its lowest level since hitting a matching rate in April of 2008.
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