In October, the United States saw an increase of 150,000 jobs in the nonfarm sector, and the unemployment rate remained at 3.9%.
A smaller number than the market had predicted, which was 180,000 jobs.
There was job growth in the healthcare, government and social assistance sectors, but the manufacturing industry saw a reduction in employment due to a strike. The number of people unemployed for more than 27 weeks remained stable at 1.3 million, representing 19.8% of all unemployed people.
The labor force participation rate and the employment-population ratio varied little. There has been little change in the number of people employed part-time for economic reasons, and the number of people who want a job but are not actively seeking it has also remained stable.
Average hourly wages increased in October, both for all employees and for production and non-supervisory workers. The average number of hours worked per week decreased slightly in October.
The data could lead to an end to the Federal Reserve's cycle of historic interest rate hikes,
as they present stronger evidence that higher borrowing costs have negatively impacted economic growth.