US October employment report strengthens the case for a December fed funds rate hike | Eurobank
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US October employment report strengthens the case for a December fed funds rate hike

US nonfarm payrolls increased by 271k in October -the largest rise since December 2014- surpassing consensus expectations for a rise of 185k. Adding to the positive tone of the report, the respective figures of August and September were revised higher by 12k cumulatively, with the three-month moving average increasing to 187k from 171k previously. The increase in nonfarm payrolls in October was mainly driven by the private sector, which rose by 268k.