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Expand chart
Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. added 250,000 jobs in October, beating the 190,000 jobs estimate from economists, the Labor Department said on Friday. Unemployment rate held at 3.7%, a nearly 50-year low, while wages grew 3.1% year-over-year, the biggest jump since 2009.

Why it matters: The final gauge of the Trump economy before the midterm elections was strong. Separately, it reinforces the Federal Reserve's case to raise interest rates one more time this year.

Details:

  • Job growth was strong in health care, manufacturing, and construction sectors.
  • Hispanic unemployment hit a record low of 4.4%, while African American unemployment ticked slightly higher to 6.2%.
  • September's jobs number was revised lower to 118,000 from 134,000, but that was offset by an upward revision in August's jobs number.
  • The Labor Department said Hurricane Michael, which made landfall during the surveying period for jobs, had "no discernible effect" on employment data in October.

The bottom line: Jason Furman, former Chairman of the Council of Economic Advisors under Obama, tweeted that this was an exceptional jobs report:

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

Go deeper

Biden explains justification for Syria strike in letter to Congress

Photo: Chris Kleponis/CNP/Bloomberg via Getty Images

President Biden told congressional leadership in a letter Saturday that this week's airstrike against facilities in Syria linked to Iranian-backed militia groups was consistent with the U.S. right to self-defense.

Why it matters: Some Democrats, including Sens. Tim Kaine (D-Va.) and Chris Murphy (D-Conn.) and Rep. Ro Khanna (D-Calif.), have criticized the Biden administration for the strike and demanded a briefing.

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FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios