Hiring picked up nationally in October, as 531,000 jobs were added.

The nation added 531,000 jobs in October, according to the latest jobs report from the U.S. Bureau of Labor Statistics. That’s a sharp and positive contrast from the previous month’s disappointing 194,000 jobs gain. Today, the BLS reports,

Total nonfarm payroll employment rose by 531,000 in October, and the unemployment rate edged down by 0.2 percentage point to 4.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, with notable job gains in leisure and hospitality, in professional and business services, in manufacturing, and in
transportation and warehousing. Employment in public education declined over the month.

CNBC reports,

Private payrolls were even stronger, rising 604,000 as a loss of 73,000 government jobs pulled down the headline number. October’s gains represented a sharp pickup from September, which gained 312,000 jobs after the initial Bureau of Labor Statistics estimate of 194,000 saw a substantial upward revision in Friday’s report.

Calculated Risks says,

This was above consensus expectations, and August and September were revised up by 235,000 combined.  A strong report.

From the Associated Press:

All told, the figures point to an economy that is steadily recovering from the pandemic recession, with healthy consumer spending prompting companies in nearly every industry to add workers…

“This is the kind of recovery we can get when we are not sidelined by a surge in COVID cases,” said Nick Bunker, director of economic research at the employment website Indeed. “The speed of employment gains has faltered at times this year, but the underlying momentum of the U.S. labor market is quite clear.”

More analysis at all of the above links. All in all, this is a good report.