The daily business briefing: November 4, 2016

The U.S. economy adds a solid 161,000 jobs, the World Series finale breaks a TV record, and more

The Cubs celebrate their World Series win
(Image credit: Getty Images)

1. U.S. economy adds a solid 161,000 jobs in October

The U.S. economy added 161,000 non-farm jobs in October, according to the jobs report released Friday. The gains fell just short of the 175,000 increase predicted by economists surveyed by MarketWatch. Hiring figures from the two prior months also were adjusted slightly higher than initially reported. Together, the figures added to recent upbeat data supporting expectations that the Federal Reserve will decide that the economy is strong enough to justify nudging interest rates higher in December. The unemployment rate dropped to 4.9 percent in October, down from 5 percent, and hourly wages rose by 0.4 percent.

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