The US economy added 165,000 jobs in October, beating expectations, while the unemployment rate fell to 4.1%, as per the Labor Department . Officials, meanwhile, highlighted efforts to protect American jobs, wages and taxpayer funds from fraud and corruption.
However, the report also showed continuing challenges for workers . Long-term unemployment stood at 2 million, accounting for 27.6% of all unemployed people. The number of Americans working part-time for economic reasons increased by 339,000 to 4.8 million.
The unemployment rate declined to 4.1%, compared with 4.2% in September, contrary to expectations that it would remain unchanged. Professional and business services recorded the largest increase, adding 70,000 positions in October. Healthcare employment rose by 41,600, while transportation and warehousing added 24,800 jobs. Manufacturing also gained 19,000 positions.
