Payrolls Jump 204K as Economy Weathered Shutdown

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Nov. 8 (Bloomberg) -- Payrolls in the U.S. increased more than forecast in October, a sign that employers were optimistic the world’s biggest economy would weather the effects of the federal government shutdown. Peter Cook reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

A home run.

Two or 4000 jobs added in october.

-- 200-4000 jobs -- 200,4,000 jobs added in october.

Revisions add another 60,000 jobs.

204,000 is well above our survey number.

The three-month average is now 200-2000 -- 202,000. according to the bureau of labor statistics, there were no discernible impacts of the partial government shutdown on the estimates of employment, hours, and earnings.

It is pretty clean when you look at the establishment survey.

Not the case with the household survey.

An impact there.

One of the reasons for norway's -- misclassification.

Some government workers were listened -- listed as absent from work and other cases they were listed as employed but on temporary layoff.

We were warned about that.

7.3 is the unemployment rate.

The first increase we have seen since april.

Who was hiring?

Retail up 44,000, leisure and hospitality, of 53,000. average hourly earnings up 0.1%. the average hours -- 34 point four hours.

Bottom line, there's going to be a lot more people to digest in this report.

Some confusion because of the government shutdown.

People are going to focus in on the establishment survey.

Very interesting.

Stay with me.

Olivia, watching futures.

There was a fall here on these numbers.

We're seeing sharp fall across the board.

The dollar, s&p futures, bond yields are spiking.

I am tracking futures right now.

They are falling.

This is after we saw the markets fall yesterday.

Right now, s&p futures are set to open about 4/10 of one percent lower.

Let's show you what is happening to the dollar.

It is falling yesterday.

We will keep watching market reaction and get back to you with updates.

Might come i know you standing by.

Some of this might the because if these are better than expected job numbers, maybe we are wrong on when the fed is going to taper.

Them i was wrong in telling you not to pay attention.

This is interesting.

It shows the economy stronger going into the fall then perhaps we thought.

Are companies going to continue hiring?

We do not have an answer to that.

More people were added to payroll and the establishment survey was good.

You do not have the answer on the other side to hours worked.

You are still a little bit down from where you were in terms of pressure on companies to add more people.

It brings the fed back into play, which is why you're seeing this reaction that olivia was talking about futures lower.

Maybe they might do something in december after the said tapers this past week.

Talks about getting out of qb and more forward guidance.

It could be a live possibility at this is the type of job creation we see holding into november.

Hard to make a whole lot out of anything else.

The rest of the we are going to have to wait until the november report to see if we get confirmation.

Let me bring in john herman.

This text has been automatically generated. It may not be 100% accurate.

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