The U.S. jobs market snapped back in October, with nonfarm payrolls rising more than expected while the unemployment rate fell to 4.6%, the Labor Department reported Friday.
Nonfarm payrolls increased by 531,000 for the month, compared with the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%.
Private payrolls were even stronger, rising 604,000 as a loss of 73,000 government jobs pulled down the headline number.
Read the rest of the CNBC report here.
