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It’s everybody’s favorite day: jobs report day! 

And things are looking … okay! The U.S. economy added 165,000 new jobs in October, and unemployment ticked slightly down to 4.1%. For more on where exactly those new jobs are coming from, you’ll hear from Elizabeth Trovall below. 

This Friday, we’ve also got news on new tax brackets, an explainer on tokenized stocks, and a eulogy for the Cybertruck. — Rachel Kahn, temp newsletter editor
job fair
Joe Raedle/Getty Images
Latest jobs report shows a white-collar hiring turnaround
Elizabeth Trovall walks us through the jobs report.
The October jobs report, out Friday, looks rosy for a number of sectors. The U.S. economy added 165,000 new jobs last month, while unemployment ticked slightly down to 4.1%.

It’s another sign that strength in the U.S. economy is broadening, said Yelena Shulyatyeva, senior U.S. economist at The Conference Board.

“If you look at the labor market, you see strength in both goods and services producing sectors,” she said.

Manufacturing employment increased, for example. Healthcare is another growing sector, said Andrew Flowers, chief economist at recruitment technology firm Appcast. He said that’s no surprise.

"[Healthcare] has been a stalwart industry for job growth,” he said. “The other is the kind of standing up, hard hat industries of transportation. All these industries that I would say related to the AI data center build out those add jobs as well.”

Still, there were some surprises in the jobs report.
READ MORE


 
News you should know
Let’s do the numbers
  • The S&P’s total loss this week was the worst since President Donald Trump announced his “Liberation Day” tariffs in April 2025 – but it rose 0.3% today , as the great AI stock selloff slowed. The Nasdaq composite was up 1.1%, and the Dow dropped 0.5%.

  • Alright, I’ll bite… what is a tokenized stock?

  • Cool data alert: With inflation data growing less reliable and even missing when the government shut down, Bloomberg created its own price index.
Artificial intelligence
  • Turns out that AI models cost more when you don’t use English.

  • The future of AI — and so, for better or worse, the rest of the world — will be shaped by just a few dozen people. Get to know them in a new report from Intelligencer.

  • Wondering how AI companies make money? Check the new episode from the Million Bazillion team. 
Your money
  • Meta’s new AI agent could be dangerous for Amazon’s ad revenue.

  • We’ve got new tax brackets — find yours here.
a plate of decorated cookies
Courtesy of Maddie Gartmann
QUOTE OF THE DAY
“I think of it like the Minnesota State Fair. I make a lot of my income during one chunk of the year.”
— Maddie Gartmann, professional cookie baker
Kristin Schwab visited Maddie Gartmann years ago when she was a full-time teacher, part-time baker — now, she’s a full-time content creator, and still teaches cookie decorating classes. 

Today, she’s still teaching and recording TikTok videos (where she has more than 900,000 followers), and the holidays are her busy season. Very, very busy. 
HEAR MORE


Elon Musk standing in front of Tesla Cybertruck with shattered window
Elon Musk at Tesla's inauspicious debut in 2019 (Frederic J. Brown/AFP via Getty Images)
Final note
RIP Cybertruck
It’s the end of an era: Elon Musk announced that Tesla would be winding down production of its cybertruck in order to focus on self-driving rideshare cars. 

The Cybertruck’s short ride was … a bit bumpy. From its debut, where in order to demonstrate the strength of the car’s “armor glass,” one of Musk’s team members threw a steel ball at the window, shattering said glass; to the numerous recalls; to catastrophic fires and crashes that led to multiple deaths, the Cybertruck has been an enduring symbol of its creator’s hubris.

In this sad hour, let us hold space for those most impacted by this news: small businesses selling “I bought this before Elon went crazy” stickers.
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