FX.co ★ US Unemployment Rate Edges Lower

The US unemployment rate edged down to 4.1% in October 2026 from 4.2% in September, coming in slightly below market expectations of 4.2%. The number of unemployed declined by 41,000 to 7.07 million, while total employment surged by 463,000 to 163.62 million, underscoring ongoing resilience in the labor market. At the same time, the labor force grew by 421,000 to 170.68 million, pushing the participation rate up to 61.9% from 61.8%. The employment-to-population ratio also ticked higher to 59.3%, its strongest level since February. However, some underlying softness emerged, as the broader U-6 unemployment rate—which captures unemployed, underemployed, and marginally attached workers—rose to 7.9% from 7.6%.