October jobs report beats forecasts
The gist
Economists surveyed by Reuters expect October nonfarm payrolls to rise 65,000, after September's 29,000 gain.
Hiring has averaged just 35,000 a month as the labor force shrinks.
How it unfolded
- Nov 5, 2026Previews noted the BLS would release October nonfarm payrolls on Friday at 8:30 a.m. ET.
- Nov 6, 2026A Reuters survey of economists predicted a 65,000 gain in October, with estimates ranging from 35,000 to 125,000; the Dow Jones consensus forecast 59,000.
- Nov 6, 2026Forecasts put the unemployment rate unchanged at 4.2%, with a high probability it may have slipped to 4.1%, and average hourly earnings up 0.3% on the month.
Key terms
- nonfarm payrolls
- A monthly survey of US businesses outside agriculture, measuring employment and economic health.
- Bureau of Labor Statistics
- A unit of the US Department of Labor that collects and publishes labor economics and statistics data.
- Federal Reserve
- The central banking system of the United States, created in 1913 to provide a stable monetary system.
Source: Wikipedia