Economy adds 128K jobs in October, exceeding expectations

The U.S. added 128,000 jobs in October, according to federal data released Friday, far exceeding expectations as the economy continues to slow under global pressures and trade tensions.

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The unemployment rate ticked up to 3.6 percent from 3.5 percent in September, while the labor force participation remained little changed at 63.3 percent.

Economists widely expected an October jobs gain of less than 100,00 workers, largely due to the fallout of the 40-day strike at General Motors plants. The UAW work stoppage took thousands of auto workers out of the job market and hindered some GM suppliers, temporarily shrinking the labor pool.

This developing report will be updated.

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