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11/06/2026 The US added 165,000 jobs in October, according to the Labor Department, more than double the 65,000 economists expected. Unemployment fell to 4.1%, and August and September were revised up by a combined 84,000 jobs. Health care, manufacturing and business services added jobs, while restaurants and construction cut them. Here's the catch for your paycheck. Average hourly pay hit $38.00, up 3.1% from a year ago. The latest inflation reading, for September, was 3.7%. So for every $100 you earned last year, you're earning about $103.10, while what cost $100 then costs about $103.70 now. AP reports pay after inflation has been down from a year earlier for 6 straight months through September. Why a strong report points to higher rates: the Fed's job is to keep people working and keep prices stable. When hiring is strong, it has room to fight inflation by raising its rate, which makes borrowing more expensive and slows spending. The Fed hiked in September, its first increase since 2023, then held at 3.75% to 4% in October with 2 officials voting to hike. After this report, traders put the odds of a December hike at about 77%, up from about 67% on Thursday, per CME FedWatch. What not to do: don't plan a big purchase on the idea that rates are about to fall. Markets are now pricing the opposite. The next number that matters is Tuesday's October inflation report at 7:30am Central, and the Fed meets December 8 and 9. Did your raise this year beat 3.7%? Yes or no below. Follow for daily breakdowns. @zarek_devine #jobsreport #inflation #federalreserve #PersonalFinance #economy
11/06/2026 The US added 165,000 jobs in October, according to the Labor Department, more than double the 65,000 economists expected. Unemployment fell to 4.1%, and August and September were revised up by a combined 84,000 jobs. Health care, manufacturing and business services added jobs, while restaurants and construction cut them. Here's the catch for your paycheck. Average hourly pay hit $38.00, up 3.1% from a year ago. The latest inflation reading, for September, was 3.7%. So for every $100 you earned last year, you're earning about $103.10, while what cost $100 then costs about $103.70 now. AP reports pay after inflation has been down from a year earlier for 6 straight months through September. Why a strong report points to higher rates: the Fed's job is to keep people working and keep prices stable. When hiring is strong, it has room to fight inflation by raising its rate, which makes borrowing more expensive and slows spending. The Fed hiked in September, its first increase since 2023, then held at 3.75% to 4% in October with 2 officials voting to hike. After this report, traders put the odds of a December hike at about 77%, up from about 67% on Thursday, per CME FedWatch. What not to do: don't plan a big purchase on the idea that rates are about to fall. Markets are now pricing the opposite. The next number that matters is Tuesday's October inflation report at 7:30am Central, and the Fed meets December 8 and 9. Did your raise this year beat 3.7%? Yes or no below. Follow for daily breakdowns. @zarek_devine #jobsreport #inflation #federalreserve #PersonalFinance #economy

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