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Job Gains Show U.S. Economy Continues to Slowly Recover: Live Business Updates

November 6, 2020

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U.S. employers added 638,000 jobs in October. Unemployment fell to 6.9%.

The American economy gained 638,000 jobs last month, a sign the labor market continues to heal slowly as a resurgence in the coronavirus threatens future growth.

The unemployment rate fell sharply to 6.9 percent, from 7.9 percent in September, the Labor Department reported.

The overall job gain would have been larger without the loss of 147,000 temporary census positions.

The nation has recovered a little over half of the 22 million jobs lost after the pandemic struck in March, but the gains have softened in recent months. The economy added almost 1.8 million jobs in July and 1.5 million in August, but the figure fell to 672,000 in September.

Read More on The New York Times