VIEW Strong October jobs report sends yields higher
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓US nonfarm payrolls rose by 165,000 jobs in October, and the unemployment rate fell to 4.1%.
- ✓Anshul Sharma of Savvy Wealth said, “This was a much stronger report than expected.” The data showed a resilient labor market, causing Treasury yields to rise as bets on a December rate hike increased.
Story at a Glance
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- MARKET
- Reported By
- Reuters
- Reading Speed
- 7 Minute(s)
- Market Focus
- India Economy
NEW YORK, Nov 6 (Reuters) - US nonfarm payrolls rose more than expected in October and the unemployment rate fell to 4.1%, suggesting the labor market remained resilient and giving the Federal Reserve more scope to focus on inflation stemming from the Middle East conflict.
Payrolls rose by jumped by 165,000 jobs last month after an upwardly revised 60,000 gain in September, the Labor Department's Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast payrolls advancing 65,000 after a previously reported 29,000 increase in September.
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The unemployment rate declined from 4.2% in September.
MARKET REACTION:
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Reuters
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