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The trend of unpredictable labor market readings persisted on Friday, when the latest nonfarm payrolls report showed hiring was stronger than expected in each of the past three months, suggesting the past year’s stagnant labor market could be turning a corner. The US economy added 165,000 jobs in October, more than double the 65,000 economists predicted, according to data from the Bureau of Labor Statistics. The report also revised up August and September growth by a cumulative 84,000 jobs. The unemployment rate ticked down to 4.1% from 4.2% in September. The report firmed investor expectations that the Federal Reserve will raise interest rates by a quarter point in December.
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