Unemployment drops to 6.9% and US adds a solid 638,000 jobs

Virus Outbreak Unemployment Benefits
Posted at 6:56 AM, Nov 06, 2020
and last updated 2020-11-06 08:56:15-05

WASHINGTON — U.S. employers added 638,000 jobs in October, a solid pace though far fewer than needed to regain most of the jobs lost to the pandemic recession just as new viral cases are setting record highs.

The October gain suggested that a tentative economic recovery may remain intact even in the face of a surging viral outbreak.

The report Friday from the Labor Department said the unemployment rate fell to 6.9% from 7.9% in September.

Eight months after the virus struck the United States, the economy still has recovered barely half the 22 million jobs that were lost to the pandemic.