- The unemployment rate ticked up to 3.6% in October as expected.
- Annual wage inflation, as measured by average hourly earnings, stayed unchanged at 3%.
- September’s Nonfarm Payroll reading of 136,000 got revised up to 180,000.
The US Bureau of Labor Statistics on Friday reported that Nonfarm Payrolls in October increased by 128,000 following September’s reading of 180,000 (revised from 136,000) and came in stronger than the market expectation of 89,000.
With the initial market reaction, the US Dollar Index edged higher and was last up 0.1% on the day at 97.43.
Key takeaways from the press release
“The unemployment rate was little changed at 3.6%.”
“The labor force participation rate was little changed at 63.3% in October.”
“In October, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $28.18.”
“Over the past 12 months, average hourly earnings have increased by 3.0%.”
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