eFXdata reports that analysts at CIBC Research discuss today's U.S. jobs report.
"Hiring accelerated in the US in October, with the 531K employment gain above the consensus forecast of 450K. A +235K revision to the prior two months added to the good news. [...] The unemployment rate fell by a tick more than expected, to 4.6%, as the household survey showed a solid gain in jobs and the participation rate held steady. Average hourly earnings rose by a strong 0.4% as employers continued to attract workers to fill elevated job openings."
"While better than expected, this print still leaves the unemployment rate 1.1%-points above the lows the Fed is aiming to see in the next two years."