U.S. employers add jobs as labor market remains strong

U.S. employers added 261,000 jobs in October, higher than the 205,000 expected by economists. Job growth has slowed in recent months, with unemployment currently at 3.7 percent, up from 3.5 percent in September. “We’re seeing a labor market that’s showing signs of cooling down, but still very strong and elevated far above its levels before the pandemic,” said Nick Bunker, director of North American economic research for Indeed.