Employment Bounces Back in October

U.S. employers added 531,000 new jobs in October, with hiring in leisure and hospitality continuing to lead the way, according to the latest employment report from the Bureau of Labor Statistics. The unemployment rate fell to 4.6 percent from 4.8 percent in September.

After more than one million jobs were added in July alone, hiring slowed sharply for the next two months. Even though there are over 4 million fewer jobs than there were before the pandemic, employers still report trouble filling those roles, and labor force participation has remained below pre-pandemic levels.

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