Employment in the U.S. increased by more than expected in the month of October, according to a closely watched report released by the Labor Department on Friday.
The report showed non-farm payroll employment jumped by 261,000 jobs in October after surging by an upwardly revised 315,000 jobs in September.
Economists had expected employment to climb by about 200,000 jobs compared to the addition of 263,000 jobs originally reported for the previous month.
Meanwhile, the Labor Department said the unemployment rate rose to 3.7 percent in October from 3.5 percent in September. The unemployment rate was expected to inch up to 3.6 percent.
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