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i m jose diaz-balart we begin this busy hour with breaking news. the brand new jobs report shows the u.s. economy added 261,000 jobs in october. which is higher than expected, but the unemployment rate ticked up to 3.7% from last month s 3.5%. this as the hispanic unemployment rate ticked up to 4.2%. the black unemployment rate remains mostly unchanged and there you see the numbers at 5.9%. it s the last jobs report before election day on tuesday with the economy and the cost of living ranking as the top issue on voters minds headed to the polls. joining us with more is business and data reporter brian chung. whatever your takeaways. i want to rehighlight again the numbers we got about an hour and a half ago. in september we had 315,000 jobs added. the new jobs for october showing 261,000 jobs added in the month. but something that caught a lot of attention was the 3.7% unemployment rate that we clocked in as of october. that was a little bit higher than the 3.5% tha ....
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brian, just kind of boring down a little bit into the different groups within our nation and the unemployment rate there. latino unemployment also ticked up, african american remains solidly the same but it s kind of high. it is high. with the black unemployment rate, for example, we did see a more substantial up tick in the unemployment rate earlier in the year, call it in the middle of the summer. it has fallen as has the overall national average to the 3.5% we saw in the month of september. that was the lowest since 1969. it s jumped back up a little bit to 3.7%. some of that is compositional. we saw a contraction in the labor force. essentially the total of the amount of people working in addition to the amount of people actively looking for work. you have to look deeper to see why that s happening. but broadly speaking, some concern that again if the unemployment rate ticks up further than 3.7% will that be ....
Positive move in real wages. how do you explain that? it s very difficult to explain right now given that unemployment is relatively low. it s usually low. employers say they can t find workers, and yet as you point out wages are flat. it s unclear what s going on. wages always rise during a recovery, but we re in like one of the largest recoveries on record. some of this may be compositional, the younger people coming into the work force, maybe earning less than the boomers who are retiring. some on the fact employers are relying more on one time bonuses rather than wage increases. if we want to talk about whether trump economics is working, it s certainly not working for workers but we don t know why. wages hasn t been rising quite as fast as we d like. the numbers i ve been looking at, they ve shown a bit of a bump up in wages. catherine made a good point, the ....