U.S. economy added 271,000 jobs in October, exceeding expectations

U.S. economy added 271,000 jobs in October, exceeding expectations

Iron workers help to build the new Comcast Innovation and Technology Center under construction, Friday, Oct. 23, 2015, in Philadelphia. The U.S. economy saw big gains in construction, health care and retail in October. (Matt Rourke/AP)

The Labor Department reported Friday that the U.S. economy added 271,000 jobs in October, far exceeding expectations. The unemployment rate fell to 5 percent, a new seven-year low.

This comes as the Federal Reserve is weighing when to begin increasing interest rates. Here & Now’s Peter O’Dowd looks at the jobs numbers with Mike Regan of Bloomberg News.