JOBLESS RATE FELL AGAIN IN OCTOBER TO A 4-YEAR LOW
The job market improved in October as the unemployment rate eased to 5.8 percent, another four-year low, and hourly wages rose by the largest amount in more than a decade, the Labor Department reported today. Payroll gains were relatively modest, though, with the economy adding 194,000 jobs last month, well below the quarter of a million jobs added during a typical month this year. California, which has lagged far behind the rest of the country, was particularly impressive, with unemployment dropping to 7.7 percent from 8.3 percent. Employment in New York and New Jersey was virtually flat.