U.S. adds 150,000 jobs in October with labor report pointing to “soft landing” for economy

Job growth slowed more than expected in October and the unemployment rate climbed to 3.9%, marking the end of large monthly gains, the government reported on Friday. Nonfarm payrolls grew by 150,000 last month versus a downwardly revised 297,000 in September. The unemployment rate rose to 3.9% from 3.8% the month prior, according to the Labor Department. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joined CBS News to discuss the numbers.