US adds 165,000 jobs in October as Nasdaq futures rebound after AI selloff
Briefing by News4U · First published
In this evening’s News4U market wrap, the U.S. Bureau of Labor Statistics said nonfarm payrolls rose by 165,000 in October and the unemployment rate changed little at 4.1%, with gains in professional and business services, health care, and transportation and warehousing; September’s gain was revised up to 60,000 from 29,000. CoinDesk reported the print blew past the 65,000 estimate, average hourly earnings rose 0.4% on the month and 3.1% year over year, Nasdaq 100 futures continued with a 1.5% gain, the 10-year Treasury yield rose 6.4 basis points to 4.894%, and bitcoin was near $75,800 just after the news, as traders reassess December Fed hike odds after Thursday’s AI-led equity rout. [1] [2]
Sources
- CoinDesk: The government’s just-released Nonfarm Payrolls Report showed the addition of 165,000 jobs in October, far past estimates for 65,000.
CoinDesk · · Excerpt
- BLS Consumer Prices: Total nonfarm payroll employment rose by 165,000 in October, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Lab
BLS Consumer Prices · · Excerpt