US adds 165,000 jobs in October as unemployment falls to 4.1%

The US economy added 165,000 jobs in October, surpassing expectations, while the unemployment rate fell to 4.1% from 4.2%, according to Bureau of Labor Statistics data released Friday. Job growth for August and September was revised upward by a combined 84,000 positions, with August now at 186,000 and September at 60,000. Annual wage growth slowed to 3.1%, though inflation remains elevated due to a war-driven energy shock. The stronger-than-expected hiring provides reassurance as the economy enters a new political chapter following the Democrats' midterm sweep. Stock futures were mixed, with Dow futures down 450 points while Nasdaq 100 futures rose 1.5%.