“We had relatively strong and steady job growth over the year despite a number of headwinds," an economist says.
“The underlying trend in claims remains consistent with a strong labor market."
The 266,000 jobs gain shows the labor market "is continuing to provide the key foundation for the U.S. economy.”
In Powell’s testimony to Congress, he said ‘crosscurrents’ have been weighing on economic activity and the central bank will ‘act as appropriate.’
A second straight month of strong U.S. job growth is "further evidence that February’s paltry 56,000 increase in jobs was an aberration."
The unemployment rate remained at 3.7% and wages rose 3.1% on an annual basis, indicating continuing strength in the labor market.
The October jobs report is "another reminder of the labor market’s persistent strength even as the stock market has swerved down in recent weeks."
U.S. job growth in June easily beat economists' expectations despite signs the economy is at or near full employment.
“We were able to create enough new jobs to accommodate new seekers and keep the unemployment rate steady," an economist says of the strong jobs report.
The strong January report suggests the solid jobs growth since the recession may finally be translating into a surge in salaries.
The U.S. labor market added 261,000 jobs in October but "The big question is whether continued growth will translate into higher wages or not.”
But unemployment remains just shy of a 16-year low and economists believe last month's job numbers may only be a temporary blip.
