Strong U.S. Jobs Data Lifts December Fed Hike Bets as NVIDIA Board Opens Probe

October hiring beat expectations, lifting market-implied odds of a December Federal Reserve rate increase to about 80% and returning inflation control to the center of the policy outlook. U.S. employers added 165,000 jobs in October, compared with expectations of 65,000. The unemployment rate fell to 4.1%, while August and September payrolls were revised up by a combined 84,000. Average hourly earnings rose 0.4% from the previous month and 3.1% from a year earlier. The number of people working part time for economic reasons increased by 339,000, pointing to differences in job quality and employment structure. Market pricing implied about an 80% chance of a 25-basis-point increase at the Fed’s December meeting . The Nov.

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