00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. job growth accelerated in October as employers added 165,000 jobs,
00:09beating economists' expectations of 65,000, according to Reuters.
00:13The unemployment rate fell to 4.1% from 4.2% in September, according to the Labor Department.
00:20August and September payrolls were revised upward by a combined 84,000 jobs.
00:25Professional and business services led October's gains, followed by healthcare, transportation, and manufacturing.
00:33Leisure and hospitality lost 13,000 jobs, while construction shed 3,000.
00:38The stronger labor market reinforced expectations that the Federal Reserve will raise interest rates in December.
00:45Financial markets priced in a roughly 80% chance of a rate hike, up from 66.9% Thursday, according
00:52to CME's FedWatch tool.
00:54Annual wage growth slowed to 3.1% from 3.2% in September.
00:59For all things money, visit Benzinga.com.
Comments