US non-farm payroll employment grew 150k in October, below expectation of 172k. That’s well below average monthly gain of 258k over the prior 12 months.
Unemployment rate rose from 3.8% to 3.9%, above expectation of being unchanged at 3.8%. Participation rate dropped from 62.8% to 62.7%.
Average hourly earnings rose 0.2% mom, below expectation of 0.3% mom. Over the 12 months, average hourly earnings rose 4.1% yoy.
