October Jobs Report: Exceeding Job Growth Caps Off Tumultuous Trading Week

What happened: The Labor Department reported employers added 165K jobs in October, well above consensus estimates, capping a tumultuous trading week for U.S. equities. Key numbers: 165K jobs added in October versus 59K consensus estimate. Unemployment held steady in the low 4% range. Why it matters: With employment trends mostly at bay, the Federal Reserve is likely to keep its focus on inflationary pressures as it deliberates its next move in December. The author expects interest rates to rise another notch by year end.

The Labor Department reported employers added 165K jobs in October, well above consensus estimates, capping a tumultuous trading week for U.S. equities.

With employment trends mostly at bay, the Federal Reserve is likely to keep its focus on inflationary pressures as it deliberates its next move in December. The author expects interest rates to rise another notch by year end.