Stronger-than-expected U.S. hiring revived market expectations for a December Federal Reserve rate increase on Friday.
The U.S. Bureau of Labor Statistics (BLS) put October payroll growth at 165,000, above the 65,000 estimate in a Reuters poll. The agency reported unemployment at 4.1% and revised September's payroll gain to 60,000.
After the release, futures pricing implied nearly an 80% chance of an increase of at least 25 basis points at the December meeting, Reuters reported. EconoTimes' earlier coverage of the dollar and December rate expectations also linked the jobs release to higher rate expectations after Asian technology losses.
The next U.S. jobs report is scheduled for Dec. 4 at 8:30 a.m. ET. The Fed's next meeting is Dec. 8-9.
