America adds 531,000 jobs to its economy in October.
Reports that America has added 531,000 jobs in October alone, decreasing unemployment rate by 4.6%. This signals a strong rebound of the economy.
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Reports that that the 4.6% reduced unemployment drastically. Areas of job gain in October are leisure and hospitality, transportation, manufacturing, warehouse etc according to CNN.
Hospitality sector faced massive crisis in the pandemic recession after countries restricted travels. The sector still face about 1.4 million of job shortages.
The US economy is said to have added over 18 million jobs since the recovery begun. The labour department said it added about 795,000 jobs in August and September. This is another win for the Joe Biden administration