Nonfarm payrolls rose by 165K in October, well above the 65K forecast and more than double September's revised 60K gain, the Bureau of Labor Statistics reported. The unemployment rate dipped to 4.1%, slightly better than the 4.2% forecast and down from 4.2% in September.
| Reading | Actual | Forecast | Prior |
|---|---|---|---|
| Non Farm Payrolls (Oct) | 165K | 65K | 60K |
| Participation Rate (Oct) | 61.9% | 61.9% | 61.8% |
| U-6 Unemployment Rate (Oct) | 7.9% | 7.6% | 7.6% |
| Unemployment Rate (Oct) | 4.1% | 4.2% | 4.2% |
| Nonfarm Payrolls Private (Oct) | 159K | 64K | 78K |
| Average Hourly Earnings MoM (Oct) | 0.4% | 0.3% | 0.3% |
| Average Hourly Earnings YoY (Oct) | 3.1% | 2.9% | 3.2% |
Source: Economic calendar: the official release, the consensus forecast and the prior reading · as of November 6, 2026 at 8:30 AM ET · Released at 8:30 AM ET on Friday, November 6, 2026.
The details
Private payrolls, which exclude government jobs, added 159K positions, far above the 64K forecast though below September's 78K. The labor force participation rate, which measures the share of working-age people employed or looking for work, held at 61.9%, matching forecast and up from 61.8% prior.
The U-6 unemployment rate, a broader measure that includes part-time workers who want full-time work and those marginally attached to the labor force, rose to 7.9%, above the 7.6% forecast and up from the 7.6% prior reading.
Average hourly earnings, a gauge of wage growth, rose 0.4% month over month, above the 0.3% forecast and matching September's pace on a rounded basis versus the 0.3% prior. Year over year, wages grew 3.1%, above the 2.9% forecast but down from 3.2% in September.
In context
Stored official data show the unemployment rate at 4.20% as of September 2026, versus 4.40% a year earlier in September 2025. Over the period shown, from December 2006 to September 2026, the rate ranged from a low of 3.40% in April 2023 to a high of 14.80% in April 2020, placing the latest stored reading well below the pandemic peak and closer to the low end of that multiyear range.
- Latest
- 4.2% Sep 2026
- High
- 14.8% Apr 2020
- Low
- 3.4% Apr 2023
Source: US Bureau of Labor Statistics, unemployment rate, monthly · The stored history runs to September 2026; this release's readings are in the table above.
How markets took it
As of 8:35 AM ET, before the regular session opened, S&P 500 futures stood at 7,396.75, up 0.19% from the prior close, and Nasdaq 100 futures were at 27,145.25, up 1.47%. The 10-year Treasury yield was at 4.887%, up 1.01% from the prior close; Bloomberg had reported bond traders positioned for further Treasury gains ahead of the report amid fading expectations for additional Federal Reserve rate hikes.
| Market | Level | Change |
|---|---|---|
| S&P 500 futures | 7,396.75 | +0.19% |
| Nasdaq 100 futures | 27,145.25 | +1.47% |
| 10-year Treasury yield | 4.887% | +1.01% |
Source: Index futures, index and Treasury yield quotes · as of November 6, 2026 at 8:35 AM ET · Read at 8:35 AM ET, before the regular session opened; change is from the prior close.