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US added 531,000 jobs in October as COVID-19 surge from delta variant wanes

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Posted at 8:43 AM, Nov 05, 2021
and last updated 2021-11-05 11:38:17-04

The Bureau of Labor Statistics reported Friday that the U.S. added 531,000 jobs in the month of October, meeting economists' expectations after back-to-back months of disappointing gains.

Friday's report reflects how the U.S. economy is regaining strength as the threat of the COVID-19 delta variant subsides and case rates across the country drop.

The BLS added in Friday's report that the unemployment rate currently sits at 4.6%, down .2% from a month ago. In addition, the agency says there was "little change" in the number of permanent job loss and people on temporary layoff in the last month.

In remarks from the White House Friday, President Joe Biden said the report marked a "great day for our economic recovery."

"This did not happen by accident," he added, adding that he believed Friday's positive report was sparked by the latest round of COVID-19 stimulus that was proposed by his administration and passed into law early this year.

Biden also noted that rising vaccination rates and fewer COVID-19 cases led to more Americans returning to work and more shoppers returning to stores. He said that the approval of a vaccine for children and impending vaccine mandates for large employers would soon further thin the spread of the virus.