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Post by bot on Nov 3, 2017 19:15:44 GMT -5
U.S. adds 261,000 jobs in October; unemployment 4.1%
WASHINGTON (MarketWatch) - The U.S. economy added 261,000 jobs in October as employment rebounded from a miserly gain in the prior month due to hurricanes Harvey and Irma. Economists polled by MarketWatch had predicted a 325,000 increase in nonfarm jobs. The unemployment rate slipped to 4.1% from 4.2%, the lowest level since December 2000. Wages fell 1 cent to an average of $26.53 an hour, the government said Friday. Hourly pay increased 2.4% from October 2016 to October 2017, down from 2.8% in the prior month. The average workweek was flat at 34.4 hours. The initially reported loss of 33,000 jobs in September was revised to an 18,000 gain. The increase in jobs in August was raised to 208,000 from 169,000.
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