article source: usatoday.com
overview: The U.S. economy added 638,000 jobs in October as payroll growth roughly held steady despite a surge in COVID-19 cases and Congress’s failure to provide more aid to unemployed Americans and struggling businesses.
excerpt:
The unemployment rate fell from 7.9% to 6.9% even as the number of Americans working or looking for jobs -- which makes up the labor force -- rose sharply because many landed positions, the Labor Department said Friday.
Economists had estimated that 600,000 jobs were added last month, according to a Bloomberg survey.