U.S. Nonfarm Payrolls Rise By 271,000 In October; Jobless Rate Dips To 5.0%
Nonfarm employment in the U.S. grew by 271,000 during October, the Labour Department reported Friday.The government revised the September jobs gain to 137,000 from the previously reported 142,000. Meanwhile, the jobless rate dipped to 5.0% in October from the 5.1% level of the previous month.
Consensus expectations compiled by various news organizations called for nonfarm payrolls to rise by between 177,000 and 190,000 in October, while the unemployment rate was expected to hold at 5.1%.
The monthly U.S. jobs report is one of those watched most closely by traders as they try to gauge whether the Federal Open Market Committee might hike U.S. interest rates yet this year. One more jobs report, for November, is scheduled for release before policy-makers meet again in mid-December. |
