U.S. Employers Added 165,000 Jobs in October, Exceeding Forecasts; Unemployment Slips to 4.1%

U.S. employers added 165,000 jobs in October, significantly surpassing economists' expectations of 65,000. The national unemployment rate decreased to 4.1% from 4.2%. Average hourly earnings rose by 0.4% in October, ahead of the 0.3% forecast, with a 3.1% increase over the past year. This stronger-than-expected employment growth is influencing market expectations regarding a potential Federal Reserve interest rate hike in December.