Dollars & Sense: October jobs report beats expectations

What to Know: Hiring exceeded expectations: U.S. employers added 165,000 jobs in October, and unemployment edged down to 4.1%.Paychecks are losing ground: average hourly earnings increased 3.1% over the past year, compared with a 3.7% annual inflation rate. Schlesinger recommends building an emergency fund capable of covering six months of expenses in case of a job loss. ORLANDO, Fla. – The U.S. economy added more jobs than expected in October, offering encouraging news about the strength of the labor market. But for millions of Americans struggling with higher prices, the latest employment report also highlights a troubling reality: wages simply aren’t keeping up with inflation. According to the U.S. Bureau of Labor Statistics, employers added 165,000 jobs in October, far exceeding economists’ expectations of roughly 60,000. The unemployment rate edged down to 4.1%, from 4.2% in September and the government also revised employment figures for August and September upward, adding a comb