US October Nonfarm Payrolls Rise 165K, Beating Expectations; Unemployment Falls to 4.1%

English summary

The US Bureau of Labor Statistics reported that nonfarm payrolls rose by 165,000 in October, significantly exceeding the expected 65,000, while the unemployment rate fell to 4.1%. Substantial upward revisions to previous months indicate a robust labor market, leading traders to increase bets on a Federal Reserve rate hike in December.