Non-farm payrolls show “solid, dynamic” recovery in place

Summary: Non-farm payrolls increase by 531K in October; above expectations; previous two months’ figures revised up by 235K; jobless rate down to 4.6%, participation rate steady at 61.6%; labour market recovery “in place”, US economic activity “re-accelerating.”; jobs-to-population ratio increases to 58.8%; underutilisation rate falls from 8.5% to 8.3%; annual hourly pay growth increases to 4.9%. The US economy ceased producing jobs in net terms as infection controls began to...

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