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The Department of Labor said the U.S. economy added 204,000 nonfarm jobs during October. That number came in much higher than the consensus estimate of 114,000 among economists polled by Thomson Reuters.The Labor Department also revised upward its job-growth estimates for the previous months. The agency's estimate for nonfarm payroll growth for August increased to 238,000 from 193,000, and the estimate for September payroll growth increased to 163,000 from 148,000. But all was not rosy in the employment report, and this may have eased investors' fears that strong employment growth numbers might force a quicker change in Federal Reserve policy than previously expected. The national unemployment rate rose slightly to 7.3% in October from 7.2% in September, and the labor participation rate declined by 0.4% to 62.8% during the month. "The civilian labor force was down by 720,000 in October," the Labor Department said. "That's a sizable drop," Wells Fargo Private Bank regional chief investment officer Darrell Cronk said early on Friday. "That means quite a few people fell out of the labor force and I think we would have
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