Non-farm employment in the United States as of October 261,000 ↑ Unemployment rate 37

Nonfarm employment in the United States increased by 261,000 in October, slightly beating the market’s estimate of 200,000. Despite the Fed’s aggressive rate hikes, the job market is stronger than expected.

According to data released by the United States Department of Labor on the 4th, the unemployment rate in the United States in October was 3.7%, slightly higher than the 3.6% forecast by experts. Last month, the unemployment rate in the United States was 3.5%.

The average hourly wage in October increased by 4.7% compared to a year ago and by 0.4% compared to the previous month.

Federal Reserve Chairman Jerome Powell said Wednesday that the labor market was “overheated” and that the rate of wage increases was “beyond the Fed’s 2% inflation target.”