Job creation in the US accelerates faster than expected in October

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The creation of job vacancies in the USA increased more than expected in October, as infections with Covid-19 during the summer in the Northern Hemisphere declined, providing further evidence that economic activity is picking up steam at the start of the fourth quarter.

531 thousand jobs were created. Work outside the agricultural sector last month, the Labor Department said in its jobs report this Friday.

The September data was revised upwards to show 312,000 job openings instead of the 194,000 previously reported.

Economists consulted by Reuters expected 450,000 jobs to be opened. Estimates ranged from 125 thousand to 755 thousand jobs.

The shortage of workers persisted, even with the end of US government-funded unemployment benefits in early September and the reopening of schools for in-person classes.

Reference: CNN Brasil

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