The U.S. economy added 261,000 new jobs in October, while the unemployment rate fell to 4.1%, according to the Labor Department.

Expand chart
Data: BLS; Chart: Andrew Witherspoon / Axios


  • September job gains were revised to show that 18,000 jobs were added rather than the 33,000 job loss previously reported. Therefore, the economy's streak of 85 months of job growth is alive and well.
  • The industry showing the strongest job growth was "food services and drinking places," with 89,000 new positions.
  • But as Jed Kolko, Chief Economist with points out, this is likely the effect of businesses reopening following severe hurricanes in Texas and Florida.
  • The return of these low paying gigs pulled down the wage growth overall, which was flat last month.

The bottom line: "The jobs market keeps humming along," said economist Justin Wolfers. The U.S. economy is adding jobs at a healthy clip, but not quickly enough to force employers to drastically raise wages.

Go deeper

Trump vows to block stimulus funding for mail-in voting and USPS

President Trump on Thursday told Fox Business' Maria Bartiromo that Democratic demands to fund mail-in voting and the U.S. Postal Service in ongoing coronavirus stimulus negotiations were a non-starter.

Why it matters: Trump directly linked Democrats' desired $3.6 billion for mail-in voting and $25 billion for the USPS to his continued baseless claims that increased mail-in voting will lead to widespread voter fraud.

Wind and solar power hit record global market shares in first half of 2020

Reproduced from Ember; Chart: Axios Visuals

A steep decline in coal-fired power combined with rising wind and solar output drove the carbon-free sources to record global market share in the first half of 2020, per a new analysis from the environmental think tank Ember.

Why it matters: The report shows how the coronavirus pandemic is speeding the ongoing shakeup of the global power mix — but also how it's occurring too slowly to reach international climate goals.

BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.