U.S. economy beats expectations by adding 261,000 jobs in October


The U.S. economy beat expectations in October by adding 261,000 jobs amid a news agenda that was dominated by new Twitter owner Elon Musk laying off thousands of employees.

The numbers suggest employers are largely accommodating a steep rise in borrowing costs aimed at cooling a hot labor market. 

But there are nevertheless signs that some companies like Twitter may not be confident about the future trajectory of an economy that seems to be coping with soaring inflation.

Owen Fairclough reports.