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U.S. job growth in October lower than expected

A 'help wanted' sign is posted in front of restaurant on February 4, 2022 in Los Angeles, California. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

Minneapolis (CNN) — The US economy added 150,000 jobs last month, falling below expectations but still notching a solid month of employment growth, according to Bureau of Labor Statistics data released Friday.

October’s job growth came in below September’s stronger-than-expected but downwardly revised total of 297,000 jobs.

The unemployment rate ticked higher to 3.9% from 3.8%.

The resiliency of the labor market has helped to keep consumer spending strong and the economy churning, but Federal Reserve officials are hoping for more of a slowdown in order to help rein in inflation.