U.S. October Payrolls Grow by 165,000 Jobs

The Bureau of Labor Statistics reported that nonfarm payrolls grew by 165,000 jobs in October, far exceeding the 59,000 growth forecast by Dow Jones economists. This surge was primarily driven by a record increase in management, scientific, and technical consultants, a rise in temporary hiring, and increased staffing for the 2026 congressional elections.

Economists link the growth in consulting to the corporate push to implement artificial intelligence. Moody's Analytics estimates that AI has created a net 786,000 jobs since November 2022, challenging previous predictions that the technology would cause mass unemployment. Temporary hiring also grew by 18,600, though analysts remain divided on whether this reflects a heating labor market or early seasonal holiday hiring.

Political spending also impacted the figures. OpenSecrets identified the 2026 midterm cycle as the most expensive on record, which contributed to a historical spike in employment within political organizations.