US continues to generate jobs, yet inflation erodes spending power of millions
Business
Finance
Politics
November 8, 2026
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US employers created a surprising 165,000 new jobs last month, and the unemployment rate dipped to 4.1 per cent.
Hiring was far stronger than the 65,000 new jobs that economists had expected.
The jobs report comes three days after voters delivered a stunning defeat to President Donald Trump and his Republican Party in midterm elections. Frustrated with the state of the economy – and especially the high cost of living – Americans handed full control of Congress to the Democrats.
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