The U.S. Added 261,000 Jobs in October; Here’s the Upshot<br />President Trump hailed the strong jobs report on Friday afternoon, tweeting “JOBS, JOBS, JOBS!” Many economists, however, argue<br />that the president deserves little credit for the strong job market, which predates his time in office.<br />Yet the latest round of jobs data did nothing to resolve the question<br />that has bedeviled the economic recovery for years: When will job growth translate into strong wage gains for American workers?<br />The Labor Department on Friday revised its estimate of September payrolls from a decline<br />of 33,000 — the first net loss in jobs in seven years — to an 18,000-job gain.<br />The storms’ effects were clearest in the weather-dependent leisure<br />and hospitality sector, which lost 102,000 jobs in September, then gained them all back and more — 106,000 jobs — in October.<br />“It’s certainly trending the right way, but it’s surely still unexciting — even unacceptable<br />— wage growth at this point,” said Dan North, chief economist at Euler Hermes North America.
