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U.S. payrolls surged by 261,000 in October, better than expected as hiring remains strong

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U.S. hiring remains strong as economy adds 261,000 jobs in October

Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a relatively strong labor market.

Nonfarm payrolls grew by 261,000 for the month while the unemployment rate moved higher to 3.7%, the

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. Those payroll numbers were better than the Dow Jones estimate for 205,000 more jobs, but worse than the 3.5% estimate for the unemployment…

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