US nonfarm payrolls rose 165,000 in Oct and the unemployment rate fell to 4.1%,
the Labor Department said Friday; the prior two months’ payrolls were revised
up. Resilient consumer spending and strong business investment have supported
demand and corporate profits, prompting firms to hire; gains were broad-based,
led by professional and business services and healthcare. Ahead of the Fed’s Dec
meeting officials will receive another jobs report and full inflation data;
after the release short-term interest-rate futures fell and traders increased
odds of a Fed rate hike in December following a Sept hike and an Oct pause.
