The U.S. economy added a seasonally adjusted 165,000 jobs in October, according to recently published data from the Bureau of Labor Statistics (BLS). That's well above the 59,000 economists had been expecting. The unemployment rate fell slightly to 4.1%. Meanwhile, average hourly earnings increased 0.4% for the month and are up 3.1% year over year. Strong monthly job gains were made in professional and business services (70,000); healthcare and social assistance (55,000); and transportation (24,800). Jobs were lost in leisure and hospitality (13,000), wholesale trade (9,100), and construction (3,000).
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