US October nonfarm payrolls jump 165K and unemployment falls to 4.1%

The Bureau of Labor Statistics reported that nonfarm payrolls increased by 165K in October, well above the forecast of 62K. The unemployment rate declined to 4.1% from 4.2% in September. The labor‑force participation rate was 61.9%.

The stronger‑than‑expected job growth and lower unemployment could prompt the Federal Reserve to consider a tighter monetary stance, according to the analysis in material 3.

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