Speed Reads

Jobs Numbers

Jobs report shows hiring rebound in October after weak September

The economy added 261,000 jobs in October, the Labor Department reported Friday, with the gains falling short of the 325,000-job increase analysts expected but still marking a sharp rebound from September's weakness due to hurricanes Harvey and Irma. The October gains nudged the unemployment rate down to 4.1 percent from 4.2 percent, putting it at its lowest level in 17 years. The initial September employment figures showed a loss of 33,000 jobs that month, but the latest figures indicate that the economy actually gained 18,000 jobs that month. Wages dropped by 1 cent to an average of $26.53 an hour.