United States · Source: bls.gov · Featured 6 Nov 2026

US payrolls rise 165,000 in October as unemployment holds near 4.1%

Published 6 Nov 2026, 14:30 CET · Featured 6 Nov 2026

Editor: Hedal Kolanyi / AI-assisted

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Summary: The US Bureau of Labor Statistics reported that nonfarm payroll employment rose by 165,000 in October 2026. The unemployment rate changed little at 4.1%. Average hourly earnings rose 0.4% on the month and 3.1% over the year.

What happened

In its Employment Situation release dated 6 November 2026, BLS said total nonfarm payroll employment increased by 165,000 in October, above the 48,000 average monthly gain over the prior 12 months. The unemployment rate was 4.1% and the number of unemployed people was 7.1 million; both changed little. BLS says the unemployment rate has stayed between 4.1% and 4.3% since March.

Gains were led by professional and business services (+70,000), health care (+42,000) and transportation and warehousing (+25,000). Manufacturing rose by 19,000. Average hourly earnings for private nonfarm employees rose 14 cents, or 0.4%, to $38.00 (up 3.1% over 12 months). The average workweek stayed at 34.4 hours.

August payrolls were revised up by 53,000 to +186,000 and September by 31,000 to +60,000, so those two months combined are 84,000 higher than previously reported. People employed part time for economic reasons rose by 339,000 to 4.8 million.

According to Reuters, economists in its poll had expected payrolls up 65,000, and Reuters wrote that unemployment declined from 4.2% in September. Those figures are Reuters reporting, not BLS statements. Reuters also noted that the Federal Reserve left its federal funds target range at 3.75%–4.00% last week.

Background

The household survey tracks labour-force status; the establishment survey tracks payrolls, hours and earnings. Labour-force participation was 61.9% and the employment-population ratio 59.3%, both little changed. Long-term unemployed people numbered 2.0 million (27.6% of the unemployed). In its 28 October statement, the FOMC said job gains had kept pace with the workforce and that inflation remains elevated while it waits for more information.

Why it matters for markets and crypto

Labour-market data are a core input for US monetary policy. Stronger payrolls can affect how markets weigh the chance of further rate changes, which influence borrowing costs and general risk appetite across financial markets. Reuters wrote that economists expect a rate hike in December; that is Reuters reporting of economists' expectations, not a Fed decision. This article does not discuss any specific asset and makes no forecast. The data relates to the wider economy.

What to watch next

25 November 2026: Federal Reserve Beige Book (Fed November calendar).
4 December 2026: BLS Employment Situation for November, 8:30 a.m. ET.
8–9 December 2026: Next FOMC meeting.

Sources

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