U.S. Nonfarm Payrolls Rise in October

Nonfarm Payrolls (NFP) in the US rose by 531,000 in October, the data published by the US Bureau of Labor Statistics showed on Friday. This reading came in better than the market expectation of 425,000. Additionally, September’s print got revised higher to 312,000 from 194,000.

The unemployment rate fell to 4.6% which is lower than the forecast of 4.7%. These positive results come two days after the Fed decided to start tightening monetary policy and reduce the volume of monthly purchases by about $15 billion per month.