Economy humming along: Unemployment drops to 4.1% amid record-breaking job growth

The U.S. unemployment rate took a fall in October, as the economy continued its steady upward climb amid record-breaking job growth.

Despite the hit the labor force received in September due to destructive hurricanes, 261,000 jobs were added in October according to the Department of Labor’s monthly jobs report, NBC News reported.

The last two months have seen an average of 139,000 jobs added as 85 straight months of gains continues to set a record.

And in the the lowest rate in 17 years, October saw unemployment levels dropped to 4.1 percent.

(Image: screengrab MSNBC)

“The Labor Department also revised its figures for the month of September to show an increase of 18,000, as opposed to a loss of 33,000 jobs,” NBC reported.

“The bigger picture here is that the labor market’s fine,” Brett Ryan, an economist at Deutsche Bank in New York, told The New York Times.

The leisure and hospitality sectors saw strong economic effects from Hurricanes Harvey and Irma in September, as employment fell by 102,000 jobs in September, then rebounded with even more — 106,000 jobs — in October.

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Frieda Powers


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