Overview
- On Friday, the U.S. added 165,000 nonfarm payrolls and the unemployment rate fell to 4.1 percent, beating the roughly 65,000 jobs analysts had forecast.
- The Bureau of Labor Statistics revised August and September payrolls up by a combined 84,000 jobs, lifting the recent three‑month average and boosting signs of hiring momentum.
- Average hourly earnings rose about 3.1 percent year‑over‑year in October, which remained below headline inflation and means most workers continue to face real wage losses.
- Markets reacted quickly as Treasury yields rose and the probability of a December Fed rate increase climbed substantially after the report.
- Canada’s October Labour Force Survey showed a net loss of 4,700 jobs and an unemployment rate of 6.7 percent, a result that eases short‑term pressure on further Bank of Canada tightening.