October 2015 Jobs Report
Live coverage as the October jobs report numbers are released.
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A Reuters survey forecast nonfarm payrolls increasing 180,000, well above the 139,000 jobs per month average for August and September.Should payroll gains meet expectations, it would add to robust automobile sales in painting an upbeat picture of the economy at the start of the fourth quarter.
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Stock index futures were little changed on Friday ahead of the comprehensive monthly jobs report, which could influence the Federal Reserve's decision to raise interest rates next month.
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Dollar at three-month high as pre-payrolls paralysis sets inThe dollar reached a three-month high on Friday and world shares headed for their fifth week of gains out of six, before U.S. jobs data that may nudge the Federal Reserve towards its first interest rate increase in almost a decade.The dollar's .DXY strength, combined with the highest 2-year U.S. government bond yields US2YT=RR since 2011, showed hopes were high for the jobs numbers.
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It's #FirstJob Friday: @christaylor_nyc talks to social entrepreneurs @scottharrison @jessicajackley @BlakeMycoskie https://t.co/5SXo7n3s8p8:00 AM - 06 Nov 2015
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US economy creates 271k jobs in Oct. Expected 180k.
Unemployment rate falls to 5.0%
Average earnings +0.4%
Looks like December is on.1:31 PM - 06 Nov 2015- Reply
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Fed fund futures pricing of December rate hike probability soars to 72% vs 58% before payrolls.1:32 PM - 06 Nov 2015
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U.S. stock index futures moved lower on Friday after data showed a bigger-than-expected rise in nonfarm payrolls in October, making it almost likely the Federal Reserve will raise interest rates next month.
Non-farm payrolls increased by 271,000, compared with 142,000 in September and above the 180,000 that economists polled by Reuters had expected. -
Private payrolls 3-mth avg +181k, so takes us back to trend basically. Sept an outlier https://t.co/fkfeNFU8mF
1:36 PM - 06 Nov 2015- Reply
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* Nonfarm payrolls increased 271,000 last month, the largest rise since December 2014, the Labor Department said on Friday.
* In addition, average hourly earnings increased 9 cents last month. The solid gains added to robust automobile sales in painting an upbeat picture of the economy at the start of the fourth quarter.
* The unemployment rate fell to 5.0 percent, the lowest level since April 2008, from 5.1 percent the prior month. The jobless rate is now at a level many Fed officials see as consistent with full employment.
* Payrolls data for August and September were revised to show 12,000 more jobs created than previously reported. -
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271,000 payroll jobs added is good news, but one month does not a strong economy make.1:40 PM - 06 Nov 2015
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Maybe the best news in the report: dramatic drop in number of people working part-time involuntarily. https://t.co/BhAKKHWrss
1:45 PM - 06 Nov 2015- Reply
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Robust U.S. jobs report bolsters December rate hike case https://t.co/5Eqe4vtTsA via @Reuters #payrolls #NFP #economy #jobs #trading #stocks8:47 AM - 06 Nov 2015
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Lockhart said said yesterday the Fed succeeded in moving market expectations more in line with Fed dec rate hike. So does this jobs report.1:47 PM - 06 Nov 2015
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It's beginning to look a lot like (higher interest rates by) Christmas.1:48 PM - 06 Nov 2015
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A month ago after Sept payrolls, the 2-year US yield sank to 0.54%. Today it hit 0.96%.8:54 AM - 06 Nov 2015
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While a solid report, policymakers should not be too hasty to act on one month of data. https://t.co/IRRYbgaUL2 https://t.co/u0j6etn7NW
8:56 AM - 06 Nov 2015- Reply
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Chicago Federal Reserve Bank President Charles Evans said that the latest U.S. nonfarm payrolls numbers are "very good" and that he will keep an open mind on a possible rate hike at the Fed's next meeting in December.
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Robust U.S. jobs report bolsters case for December rate hike
ReutersU.S. job growth surged in October after two straight months of tepid gains, with the unemployment rate hitting a 7-1/2-year low of 5.0 percent in a show of domestic strength that makes it more likely the Federal Reserve will hike interest rates in December. -
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Lest we forget, last time 2yr yield this high was 2010, a year that began with rate hike talk and ended with QE2 https://t.co/vLYDCPObz3
2:25 PM - 06 Nov 2015- Reply
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"Barring disaster, this makes December liftoff a lock" - Citi's Steven Englander2:28 PM - 06 Nov 2015
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Dollar jumps to seven-month high after strong U.S. payrolls figures https://t.co/G0ChXv1RLE via @Reuters $DXY #forex9:16 AM - 06 Nov 2015
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Solid growth in the number of U.S. jobs last month greatly boosts the case for a December interest rate hike by the Federal Reserve, where policymakers have begun to worry the economy might eventually overheat without higher borrowing costs.With Fed officials already saying they don't want or expect the jobless rate to fall much further, it would likely take a devastating blow in the November hiring data or mayhem in financial markets for the majority of policymakers to give up on their expectation of a hike at their Dec. 15-16 policy meeting.
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The worries about China and other global problems that caused the Fed to delay an interest rate hike in September have largely passed, St. Louis Fed President James Bullard told Reuters on Friday.
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Stocks were slightly lower on Friday after a stronger-than-expected October jobs report boost prospects that the Federal Reserve will raise interest rates next month.Nine of the 10 major S&P sectors were lower, with the interest-rate sensitive utilities sector's .SPLRCU 3 percent decline easily the worst. The financials sector .SPSY, up 1 percent, was the only gainer. Read more.
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BANKS:** Big banks up after data shows job growth in October increased the most since December 2014, boosting prospects that the Federal Reserve will raise interest rates next month** JPMorgan Chase & Co up 2.8 pct, leading 2.6 pct rise in the S&P 500 Banks index. Both Goldman Sachs and Citigroup up 3 percent** Jump in S&P 500 banking index contrasts 0.63 pct decline in S&P 500 index. Financials .SPSY only gainer among major S&P sectors** "Investors are seeing an increased probability of an interest rate hike post today's employment report," Lehman Research analyst Jason Goldberg says** Shares of U.S. regional banks also up, with Regions Financial Corp up 3.3 and SunTrust Banks Inc up 2.4 pct
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Lifting of debt limit released funds for defense and non-defense related contracts that were all pending. Not surprising they (contractors) all pulled the trigger at once to hire for the contracts. Any of this jump that is associated with that release of funds will be a one time jump.
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