US Jobs Soar By 165K Blowing Away Estimates; Unemployment Rate Drops Putting Dec Rate Hike Back In Play

Summary

US Jobs Soar By 165K Blowing Away Estimates; Unemployment Rate Drops Putting Dec Rate Hike Back In Play In our preview of the October jobs report , we said that the labor data has rarely looked this solid going into a monthly payrolls report: claims near 57-year lows, the lowest October layoffs since 2023, JOLTS openings up 333K and ADP above expectations. If anything, the risk is to the upside of the 63K consensus, and the unemployment rate could well tick down. Which, as we noted, was the problem as "a strong print gives Warsh, Hammack and Barkin all the cover they need to hike in December…

Description from Zero Hedge.