US Economy Added 638,000 Jobs In October As Unemployment Falls To 6.9%

The U.S. economy added 638,000 jobs in October, pointing to a slowdown in the labor market's recovery from the coronavirus pandemic as government relief faded while new cases increased.

The Labor Department's payroll report released Friday showed the unemployment rate fell to 6.9% from 7.9%. Economists surveyed by Refinitiv expected the report to show that unemployment dropped to 7.7% and the economy added 600,000 jobs. Read more at FOX Business