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Hiring rebound expected in new US jobs data, though inflation is eroding the American paycheck
Compiled Nov 6
What happened
Forecasters expect employers added 65,000 jobs last month
The detail
The unemployment rate was expected to remain at 4.2%
The detail
Layoffs are low and most Americans have unusual job security
The detail
GDP grew at a 3.4% annual pace from July through September, lifted by consumer spending and AI investment
How it unfolded
2021-2022: Hiring boom following COVID-19 lockdowns averaged 491,000 jobs a month · 2023-2024: Average monthly job creation was 166,000 · Last year (2025 per article): Monthly job creation averaged just 9,700, the weakest outside a recession since 2002 · This year so far: Employers added an average of 68,000 jobs a month · September: Employers added a disappointing 29,000 jobs; inflation-adjusted wages fell 0.7% year-over-year · Tuesday (midterm elections): Voters gave Democrats full control of Congress, reflecting economic frustration · Friday: Labor Department releases October jobs and unemployment data
By the numbers
65,000 expected jobs added last month · 4.2% unemployment rate · 3.4% annualized GDP growth · 68,000 average monthly job growth this year · 0.7% inflation-adjusted drop in average hourly earnings