The U.S. job market surprised with its resilience: the number of new jobs was three times higher than expected

The U.S. economy added significantly more jobs in October than expected: 165,000, compared with the Dow Jones consensus forecast of 59,000, according to CNBC . By comparison, only 29,000 jobs were added in September.

The unemployment rate stood at 4.1%, while Wall Street had expected it to remain at 4.2%.

Analysts had previously warned that a strong labor market report could ease some of the current market jitters by bolstering confidence in the sustainability of the economic cycle.

This news story is being updated.

This article was AI-translated and verified by a human editor