The October US employment report showed overall numbers above expectations and it gave a boost to the dollar in the market. The Non-farm payrolls increased by 531,000, above the 425,000 expected and surpassing 312,000 in September (revised from 194,000). It’s the biggest rise in three months and the 10th consecutive month with positive payroll readings.
The unemployment rate it went from 4.8% to 4.6%, while 4.7% was expected. This despite the fact that the labor force participation rate remained at 61.6%.
The average income per hour rose 0.4% in October, in line with expectations; Compared to 12 months ago, the increase was 4.9%.
While the consumer credit report will be released later on Friday, the labor market figures mark the end of hectic days with the Federal Reserve meeting and US data, which mostly showed figures above The expectations. These readings on the one hand reinforced the Fed’s decision and propped up the dollar.
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