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'Wow HUUGE': Economists React To October Jobs Report On Twitter

The U.S. economy topped expectations and added 531,000 jobs in October, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell to 4.6%, a significant drop from January when the unemployment rate was 6.3%.

Revisions also added 235,000 jobs to the previous two months' job reports. Nonfarm payroll employment is now averaging 582,000 additional jobs per month in 2021. 


The leisure and hospitality sector led all sectors for job growth in October, adding 164,000 jobs. Manufacturing, as well as transportation and warehousing, also showed strong job gains, adding 60,000 jobs and 54,000 jobs, respectively.  

The construction industry added 44,000 jobs in October after adding 30,000 jobs in September. The construction industry now has 150,000 fewer jobs than it did in February 2020.

Retail trade also improved, adding 35,000 jobs in October. There are now 140,000 fewer retail trade jobs than there were in February 2020. 

Here is how economists and others reacted to the October jobs report. 


















Related Topics: jobs, Jobs Report, jobs reports