Updated at 8:56 a.m. ET
Employers added 250,000 jobs in October, more than analysts expected, as the jobless rate remained at 3.7 percent, a nearly 50-year low, the Labor Department said Friday.
The report also showed that the pace of wage growth picked up last month. Average earnings climbed to $27.30 an hour — 3.1 percent above a year earlier.
The 12-month wage increase was the largest since 2009 and topped September's 2.8 percent gain.