The United States added 165,000 jobs in October, more than double economists’ expectations of 65,000, according to data highlighted by Coin Bureau. The stronger-than-forecast payroll growth was accompanied by a lower unemployment rate and faster wage increases, adding to the case for a Federal Reserve interest rate hike in December.
October’s payroll figure exceeded every forecast cited in the report. The September jobs estimate was also revised upward to 60,000 from the previously reported 29,000, indicating stronger employment growth in the prior month than initially recorded.
Unemployment Falls Below Expectations as Wages Rise
The unemployment rate came in at 4.1%, below both the 4.2% expected by economists and the previous reading of 4.2%. The figure points to a stronger headline labor market position than analysts had anticipated.
Wage data also showed an acceleration in earnings growth. Average wages increased 0.4% month over month, exceeding the 0.3% forecast and the previous reading of 0.1%.
On an annual basis, wages rose 3.1%, compared with expectations of 2.9% and a previous rate of 3.0%. Economists had expected annual wage growth to fall below 3% for the first time in nearly 5½ years. Instead, the latest reading moved in the opposite direction.
The combination of stronger payroll growth, a lower unemployment rate and faster wage increases adds to the case for a Federal Reserve rate hike in December, according to Coin Bureau’s assessment of the figures.
Longer-Term Hiring Trends Show a Different Picture
Despite October’s stronger employment report, the longer-term figures point to a much slower hiring environment. From January 2025 through September 2026, hiring averaged just 35,000 jobs per month.
Over the same period, the U.S. labor force shrank by 434,000 people. That decline is important when interpreting monthly employment figures because the number of additional jobs needed to keep the unemployment rate steady depends partly on how many people are working or actively looking for work.
With fewer people participating in the labor force, the economy requires markets fewer new jobs to prevent the unemployment rate from rising. As a result, the monthly payroll increase needs to be viewed alongside changes in labor-force participation and the size of the workforce.
The October report therefore presents two distinct signals: monthly job creation substantially exceeded expectations, while the longer-term average showed hiring of only 35,000 per month and a labor-force contraction of 434,000 from January 2025 through September 2026.
Writer: Victoria Hale Technology & Blockchain Writer
Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.
She prioritises clarity and accuracy when explaining technical developments to a general audience.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
