⚡️JUST OUT: The U.S. added 165K jobs in October, more than double the 65K expected and above every forecast. Payrolls: 165K vs. 65K expected. September revised up to 60K from 29K Unemployment: 4.1% vs. 4.2% expected and prior Wages MoM: +0.4% vs. +0.3% expected and +0.1% prior Wages YoY: +3.1% vs. +2.9% expected and +3.0% prior Economists expected annual wage growth to fall below 3% for the first time in nearly 5½ years. It accelerated to 3.1%, adding to the case for a December Fed hike. From January 2025 through September 2026, hiring averaged just 35K a month and the labor force shrank by 434K. With fewer people working or looking for work, it takes fewer new jobs to keep unemployment steady. Layoffs remain low, with 194K jobless claims in the survey week. But the number of long-term unemployed rose by 495K from January 2025 through September.