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A monthly measure of the number of paid workers in the US, excluding farm employees and some government workers.
Reported by the Bureau of Labor Statistics, it is one of the most closely watched indicators of economic health. Large deviations from expectations can move stock markets, bond yields, and interest rate expectations.
October hiring beat forecasts by over 100,000 jobs, driven by technical consultants, temporary workers, and election campaigns.
Job seekers now spend nearly seven months out of work on average. That stretches beyond standard state benefits, creating a tough market for those who lose their jobs.
Economists predict modest job growth for October even as the unemployment rate stays low at 4.2 percent, driven by a shrinking labor pool.