A post by @NickTimiraos on X.
The U.S. saw strong headline payroll growth (+165K) in October with upward revisions to August and September (+84K combined)
@NickTimiraos on X
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U.S. nonfarm payrolls rose by 165,000 in October, with August and September figures revised upward by a combined 84,000, while the unemployment rate edged down 0.03 percentage points to 4.14%. The stronger-than-expected headline gain and positive back-to-back revisions point to a still-resilient labor market despite elevated interest rates. The slight decline in unemployment reinforces expectations that the Federal Reserve will keep policy tight for longer. Markets will now watch upcoming inflation and wage data, along with Fed commentary, for signals on the timing of any rate cuts.
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Named in this story
U.S. Bureau of Labor Statistics, Nick Timiraos