The U.S. created 531,000 jobs in October while employers further boosted wages, a sign the economy is rebounding from the Delta variant wave but remains restrained by a depleted labor force.
With the pickup in hiring, the unemployment rate fell to 4.6% in October from 4.8% in September, the Labor Department said Friday. The rate has fallen by more than half a percentage point in just the past two months, a rapid decline that is in part due to weak labor-force participation as millions of workers remain on the sidelines.
