The unemployment rate fell 0.1 percentage point to 5.8 percent in October, its lowest level in over six years. A 638,000 increase in the number of employed in October outpaced a 416,000 increase in the size of the labor force, pushing the unemployment rate down. Since the beginning of the year, the unemployment rate has declined by 0.8 percentage point. The noted increase in the labor force caused the labor force participation rate to tick up 0.1 percentage point to 62.8 percent.
