U.S. Added 531K Jobs In October, Unemployment Drops To 4.6%

The U.S. added 531K jobs during the month of October (more than expected) and the unemployment rate fell from 4.8% to 4.6% according to the Labor Department.

Additionally, the employment report for August was revised up by 117,000, from 366,000 to 483,000. And the report for September was revised up by 118,000, from 194,000 to 312,000.

Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.

Amid all this good news, however, the unemployment rate for Black Americans remains stuck at 7.9 percent.

So far this year, monthly job growth has averaged 582,000. To date, the U.S. has recovered nearly 80% of the jobs lost during the Trump administration.

Read more at the New York Times.