US Economy Adds 638,000 Jobs In October

The transcript discusses a drop in the unemployment rate to 6.9% and highlights industry rebounds in leisure, hospitality, and retail. Despite a better-than-expected economic report, hiring has slowed, and experts warn of growth challenges due to a lack of congressional relief and rising COVID-19 cases. Federal Reserve Chairman Jerome Powell urges Congress to provide more relief, citing ongoing pandemic risks. Economic activity remains below pre-pandemic levels, and the future is uncertain. The US recorded a significant increase in COVID-19 cases, setting a new record.

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