Thursday, 22 April 2021 04:23 GMT

Kuwait- US unemployment rate drops to 4.1 pct in Oct.


(MENAFN - Kuwait News Agency (KUNA)) WASHINGTON, Nov 3 (KUNA) -- The US unemployment rate dropped to 4.1 percent last month as employers added 261,000 jobs in October, the Labor Department reported Friday.

The jobless rate declined from 4.2 percent in September, marking its lowest level in 17 years, the monthly data showed.

US job growth has averaged 162,000 in the last three months, and the economy has added jobs for 85 straight months, a record streak.

The government revised up its jobs total estimate for the previous two months with employers having added 208,000 jobs in August, up from 169,000.

In September, US employers added 18,000 jobs, up from a previous estimate that showed a loss of 33,000 that month, the data showed.

Restaurants and bars regained 89,000 jobs last month; manufacturers added 24,000 jobs; higher-paying professional jobs, such as accountants and engineers, added 50,000; and retailers lost 8,300 positions, the latest data showed. (end) rm.ma

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