The October jobs report shows unemployment fell to 5.8 percent during the month, the lowest level in six years. However, U.S. payrolls added only 214,000 new jobs, down from the 256,000 added during September. Overall, the economy is continuing to show signs of improvement. Job growth has exceeded 200,000 in each of the previous nine months and fits with the Federal Reserve’s optimistic decision last month to end its bond-buying program. Still, wage growth remained sluggish, with average hourly earnings only rising 3 percent in October.
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