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U.S. Payrolls Rise More Than Expected

October gain of 171,000 jobs is accompanied by rise in jobless rate to 7.9%.

By Alex Kowalski, Bloomberg | Updated on November 02, 2012

Hiring in the U.S. increased more than forecast in October as employers looked past slowing global growth and political gridlock at home.

In the last jobs report before next week’s election, a net 171,000 workers were added to payrolls after a 148,000 gain in September that was more than first estimated, Labor Department figures showed today in Washington. The increase exceeded the most optimistic forecast in the Bloomberg survey in which the median called for an advance of 125,000. Unemployment rose to 7.9 percent as more people entered the labor force.

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