US Jobs Rise in October

The U.S. economy added 165,000 jobs in October, a figure that economists described as higher than expected. The growth included roles in construction and manufacturing, sectors where artificial intelligence applications are beginning to appear.

The unemployment rate fell to 4.1% in October. Torsten Slok, chief economist at Apollo Global Management, noted that the labor market has kept unemployment below 5% for 61 consecutive months as of September 2026. He stated that this run is on track to become the longest period of sustained strength in modern U.S. history.

Some experts view the steady numbers as a sign of stagnation rather than pure health. Diane Swonk, chief economist at KPMG, pointed to low worker rotation as the core issue. She observed that fewer people are entering the workforce, which limits the dynamism of the job market.

Wage growth remained sluggish. Average hourly earnings rose 3.1% year over year in October. This increase exceeded forecasts but still lags behind the rate of inflation. That gap has persisted since March.

Inflation stands at 3.7% according to the Consumer Price Index data released on October 14. Business inflation is rising even faster, a trend that suggests consumers will face higher prices at supermarkets and retail stores in the coming months.