U.S. October nonfarm payrolls surge by 165,000, far exceeding expectations! Combined with accelerating wages, expectations for a Fed rate hike in December are rising.

Zhitong Finance APP has learned that data released by the U.S. Bureau of Labor Statistics on November 6 shows that in October, U.S. nonfarm payrolls increased by 165,000 month over month, far exceeding the market expectation of 65,000 and also significantly higher than the average monthly increase of 48,000 over the past 12 months. During the same period, the unemployment rate fell by 0.1 percentage point to 4.1%, below the market expectation of 4.2%.