Business & Markets
Jobs
October payrolls rose 165,000 against a forecast near 59,000, and a December Fed rate hike was already priced at about 73 percent before the report.
The Labor Department reported 165,000 new jobs for October on Friday, nearly three times the roughly 59,000 economists expected. Unemployment fell to 4.1 percent from 4.2. Average hourly earnings rose 0.4 percent for the month and 3.1 percent over the year, while consumer prices ran 3.7 percent above a year earlier through September. CME futures put the odds of a quarter-point hike in December at 72.8 percent the day before the report.