U.S. adds 261,000 jobs in October

By Trend

U.S. hiring rose in October, despite the Federal Reserve hiking interest rates several times in recent months, Trend reports citing Reuters.

Nonfarm payrolls rose by 261,000 while the jobless rate ticked upward to 3.7 percent, according to the U.S. Bureau of Labor Statistics' report released Friday.

The payroll numbers came in better than expected by Dow Jones, which had estimated 205,000 more jobs, but worse than the jobless rate estimate of 3.5 percent.

Average earnings per hour rose 4.7 percent from the same time last year and 0.4 percent for the previous month.

That indicated growth in wages will still likely push prices up, as worker pay continues to fall short of the rate of inflation.