US LABOUR MARKET REGAINS GROUND AS JOB GROWTH SURGES , UNEMPLOYMENT RATE FALLS TO 4.1 %

What happened: US job growth accelerated in October and the unemployment rate fell to 4.1 percent, with payrolls up 165,000 after an upwardly revised 60,000 gain in September. Key numbers: Payrolls +165,000 vs 65,000 forecast; unemployment 4.1 percent from 4.2 percent; August and September revised up by 84,000; three-month average 137,000; Fed funds at 3.75 to 4.00 Why it matters: The report kept the Federal Reserve on track to raise interest rates in December, and markets priced a higher chance of a hike. Some economists were sceptical, citing federal spending and election spending.

US job growth accelerated in October and the unemployment rate fell to 4.1 percent, with payrolls up 165,000 after an upwardly revised 60,000 gain in September.

The report kept the Federal Reserve on track to raise interest rates in December, and markets priced a higher chance of a hike. Some economists were sceptical, citing federal spending and election spending.