Category: Business News
The United States added far more jobs than expected in October 2026. The Bureau of Labor Statistics (BLS) reported on Friday, 6 November 2026, that nonfarm payrolls rose by 165,000 in October — nearly three times the 65,000 jobs economists had expected in the Reuters poll. The Dow Jones estimate had been even lower, at 59,000.
The unemployment rate fell to 4.1%, down from 4.2% in September. The report also revised the previous two months sharply upwards: September’s job gains were revised from 29,000 to 60,000, and August’s from 133,000 to 186,000 — a combined upward revision of 84,000 jobs.
What the report says
- Jobs added in October: 165,000, against 65,000 expected (Reuters poll) and 59,000 (Dow Jones estimate).
- Unemployment rate: 4.1%, down from 4.2% in September.
- Revisions: September revised up from 29,000 to 60,000; August revised up from 133,000 to 186,000.
- Wages: Average hourly earnings rose 0.4% in the month to $38.00, and 3.1% over the year. September’s yearly wage growth was revised to 3.2%.
- Labour force participation: 61.9%, up from 61.8% in September.
- Leading sector: Professional and business services added 70,000 jobs, the most of any sector.
Private-sector employers had already reported 86,000 new jobs in October, according to the ADP report, while first-time jobless claims fell to 189,000 last week, below the 196,000 expected.
Why it matters for the Federal Reserve
The strong report has put a December interest rate hike by the Federal Reserve back in play. Before the report, traders had priced about a 70% chance of a 25-basis-point hike at the Fed’s meeting on 8–9 December, according to CME FedWatch data. A jobs report this strong keeps that hike firmly on the table, because the Fed is watching whether the labour market is still too hot for inflation to keep cooling.
The report landed a day after Wall Street’s worst session in 19 months. On Thursday, 5 November, the S&P 500 fell 4.36% to close at 7,353.73, the Nasdaq Composite dropped 5.52% to 24,315, and the Dow Jones lost 1,833 points (3.44%) to close at 51,523.06. Investors sold technology shares after the Democrats won both chambers of Congress in the midterm elections, fearing tighter regulation of artificial intelligence and data-centre building.
Gold, Bitcoin and the dollar react
Gold fell sharply within minutes of the jobs release, dropping to about $4,032 an ounce from roughly $4,062 just before the data, before recovering to about $4,050. Bitcoin briefly climbed above $76,100, then fell to about $75,600 before trading near $75,780. The US dollar jumped after the data.
For Indian readers, the message is simple: strong US jobs data makes a December Fed hike more likely, and higher US rates and a stronger dollar usually put pressure on the rupee and on foreign investment flows into Indian markets. The rupee had opened on 6 November at 94.49 to the dollar.
Sources: Reuters; CNN; USA Today; FXStreet; US Bureau of Labor Statistics (Employment Situation, released 8:30 AM ET / 7:00 PM IST, 6 November 2026); BeInCrypto; CoinDesk.
