U.S. Economy adds 204,000 jobs in October

The U.S. economy added 204,000 jobs during the month of October, an unexpected hiring number during a month where the federal government was shut down for 16 days.

The Labor Department said Friday that the unemployment rate went up to 7.3 percent from 7.2 percent, likely as a result of furloughed federal workers being counted as unemployed. About 800,000 government workers were furloughed for all or part of the shutdown, which lasted from Oct. 1 through Oct. 16.

Employers added 60,000 more jobs in the previous two months than earlier estimated, and Friday's figures show that hiring has picked up in the fall. Employers added an average of 202,000 jobs from August through October, a number much higher than 146,000 from May through July.