US Employers Created 638,000 New Jobs

US Employers Created 638,000 New Jobs

US employers created 638,000 new jobs in October. This is considered to be a good pace of job growth, although it is significantly less than what is needed to rebuild jobs lost during the recession caused by the pandemic. Job growth has indicated that the slow recovery of the economy is likely to remain intact despite the growing number of new infections. Economists estimated that only 580,000 new jobs would be created in the United States in October. The US Department of Labor also reported on Friday that the country's unemployment rate fell to 6.9 percent in October from 7.9 percent in September. The economy, which recovered sharply between July and September, is now growing more slowly. Many companies, especially restaurants and bars, face an uncertain future as the weather worsens. Indeed, consumers are likely to restrict shopping, travel and other activities again to avoid coronavirus infection.