October Jobs Report: Payrolls Smash Estimates at 165K - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), NVIDIA…

Benzinga · Piero Cingari · 2026-11-06 13:36 UTC

October jobs report: nonfarm payrolls rose 165,000 vs 65,000 expected and unemployment fell to 4.1%, a day after the Nasdaq 100 worst day since 2020.

The U.S. economy added 165,000 jobs in October, well above the 65,000 economists had expected, the Bureau of Labor Statistics said Friday. The unemployment rate fell to 4.1%, compared with a 4.2% forecast. Average hourly earnings rose 0.4% from September and 3.1% from a year earlier, against expectations of 0.3% and 2.9%. The data comes after Thursday's tech bloodbath, with the Nasdaq 100 – tracked by the Invesco QQQ Trust (NASDAQ:QQQ) – tumbling 6.4% in its worst day since March 2020. Overall, about $3.1 trillion in market value vanished from S&P 500 companies, with Nvidia Corp. (NASDAQ:NVDA) alone burning about $447 billion. This is a developing story.

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