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Source: US Department of Labor Source: US Department of Labor <br />Employment <br />The U.S.economy added 261,000 jobs in October,surpassing market expectations of 193,000,and gains were revised upward by 29,000 for the <br />prior two months. Trends in employment remain strong,with the three-month moving average payrolls at 289,000 and the six-month moving <br />average at 347,000.Gains were broad-based,led by healthcare,professional and business services,and leisure and hospitality.The <br />unemployment rate ticked up to 3.7%from 3.5%,and the labor participation rate dipped to 62.2%in October from 62.3%in September.The U- <br />6 underemployment rate,which includes those who are marginally attached to the labor force and employed part time for economic reasons <br />edged up to 6.8%from 6.7%last month.Average hourly earnings rose 4.7%year-over-year in October compared to 5.0%year-over-year in <br />September.While the pace of job growth is moderating,the report demonstrates a strong demand for labor and provides the Fed further <br />support for continued rate hikes. <br />-200 <br />0 <br />200 <br />400 <br />600 <br />800 <br />1,000 <br />1,200 <br />MOM Change In (000's)Nonfarm Payroll (000's) <br />Non-farm Payroll (000's) <br />3 month average (000's) <br />0.0% <br />4.0% <br />8.0% <br />12.0% <br />16.0% <br />Unemployment Rate <br />Underemployment Rate (U6) <br />Unemployment Rate (U3)Rate (%)4