What happened
The Bureau of Labor Statistics released its October employment report on Friday, showing that employers added 165,000 jobs last month. The figure far surpassed the 65,000 jobs economists had estimated.
Unemployment fell slightly from 4.2 percent to 4.1 percent. Hourly earnings increased 0.4 percent on the month and 3.1 percent annually, according to the report.
The Bureau also revised prior months upward. September job gains were adjusted up by 31,000, and August gains were revised up by 53,000.
The strong employment data raised expectations that the Federal Reserve could raise interest rates in December.
