US payrolls rise by 165 K in October against a 65 K estimate

US nonfarm payrolls rose by 165 K in October, against an estimate of 65 K, in data released on November 6, 2026. The unemployment rate fell to 4.1%.

What happened

The October gain compares with a previous reading of 60 K. The data came out at 13:30 UTC, which was 8:30 a.m. in New York.

Private-sector payrolls increased by 159 K, against an estimate of 64 K. The previous figure for private payrolls was 78 K, so private hiring picked up from the month before.

The unemployment rate came in at 4.1%, against an estimate of 4.2%. The previous reading was 4.2%.

The broader U-6 rate moved the other way. It rose to 7.9%, against an estimate of 7.6%, from a previous 7.6%.

Why it matters

Payrolls are one of the main monthly gauges of the US labor market. A gain of 165 K is far larger than the 60 K recorded previously, and it shows a clear step up in hiring.

Private employers account for most of the headline figure, with 159 K of the 165 K total. That points to demand for workers in the private economy rather than a boost from government hiring.

The report is not uniformly strong. The headline unemployment rate fell, but U-6 rose. U-6 is a wider measure of labor underuse, and it counts people who want full-time work but cannot find it. A higher reading suggests slack remains in parts of the labor market even as job creation accelerates.

Economists surveyed ahead of the release had expected a much smaller gain than the one reported, so the headline number drew wide attention on the day of release. For investors, the report gives a fresh reading of labor-market momentum, which feeds into assessments of economic growth and the interest-rate outlook.

What to watch next

The next scheduled US data point is the University of Michigan consumer sentiment survey for November. It is due at 15:00 UTC on the same day. The estimate is 48, and the previous reading was 48.

The survey will show how households view the economy right after the jobs data. Markets will also look at whether later labor data confirm the October pickup in private hiring, and whether the broader U-6 measure keeps rising or reverses.