A now hiring sign is seen in Downers Grove, Illinois, on June 24, 2021. (AP Photo/Nam Y. Huh)

       WASHINGTON (Kyodo) -- The U.S. economy added 531,000 jobs in October, while the unemployment rate dropped 0.2 percentage point to 4.6 percent, Labor Department data showed Friday.

       Growth in nonfarm payrolls exceeded the market consensus of an increase of about 450,000. The data came before the U.S. Federal Reserve begins scaling back a massive bond-buying program later this month in a further shift toward normalization of its monetary policy as the country's economy continues to recover from the coronavirus pandemic.

       The Labor Department revised upward the nonfarm payroll growth reported for September from 194,000 to 312,000. The August figure was also revised up from 366,000 to 483,000.

       In October, the private sector generated 604,000 jobs, while the government shed 73,000 jobs.

       Leisure and hospitality continued to see one of the notable job gains, with 164,000 jobs added to the sector in October. But it was still down by 1.4 million, or 8.2 percent, from its pre-pandemic level in February 2020, the department said.

       Professional and business services added 100,000 jobs, while employment in manufacturing, and transportation and warehousing increased by 60,000 and 54,000 jobs, respectively.

       Hourly pay in the private sector, a key factor behind consumer spending, averaged $30.96 in October, up from $30.85 in September.

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