Source: Tami Luhby / CNN Money
NEW YORK – Hiring was surprisingly strong in October, while the unemployment rate ticked higher, according to a report released just four days before the presidential election.
The economy added 171,000 jobs in October, and unemployment ticked up to 7.9%, from 7.8% in September, the Labor Department said Friday.
Economists surveyed by CNNMoney had expected employers to add 125,000 positions, so the boost in hiring was mostly seen as a positive surprise.
Another good sign was that job growth in recent months was even stronger than originally reported. The number of positions added in August and September were revised sharply higher, adding a combined 84,000 more jobs than first thought.
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