Nonfarm payrolls rose by 128,000 in October, exceeding the estimate of 75,000 from economists surveyed by Dow Jones. The unemployment fee ticked greater to three.6%, consistent with estimates, however stays across the lowest in 50 years. The unemployment fee for African People nudged right down to a report low 5.4%. CNBC reviews: 

The whole employment degree as measured within the family survey jumped to 158.5 million, additionally a brand new excessive.

The tempo of common hourly earnings picked up a bit, rising 0.1% to a year-over-year 3% acquire, additionally consistent with estimates. The common work week was unchanged at 34.4 hours.

“This report is yet one more signal that the economic system continues to be sturdy proper now and provides to an inventory of indicators which might be trying optimistic of late,” mentioned Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, together with a extra optimistic housing market and strong Q3 GDP, ought to provide some welcome reassurance.”