Private payrolls were even stronger, rising 604,000 as a loss of 73,000 government jobs pulled down the headline number. Nonfarm payrolls increased by 531,000 for the month, compared to the Dow Jones estimate of 450,000. The unemployment rate had been expected to edge down to 4.7%. The U.S. jobs market snapped back in October, with nonfarm payrolls rising more than expected while the unemployment rate fell to 4.6%, the Labor Department reported Friday. For 2021, the sector has reclaimed 2.4 million positions lost during the pandemic.
