The Bureau of Labor Statistics reported nonfarm payrolls up 165,000 in October, far above projections of 59,000 to 65,000, with the unemployment rate dipping to 4.1 percent. Key sectors drove the gains: professional and business services added 70,000 jobs, health care 42,000, manufacturing 19,000, and transportation 25,000, while wage growth hit 3.1 percent annually. The White House hailed the thriving private-sector growth, and markets reacted with Federal Reserve rate hike odds jumping to 80 percent for December, amid notes of rising foreign-born employment and prior month revisions adding tens of thousands more jobs.
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