Latest monthly jobs report: Non-farm payrolls: +261,000 vs. the expected +195,000 (September was +263,000)
Unemployment rate: 3.7% vs. the expected 3.6% (September was 3.5%)
Average hourly earnings, month-over-month: +0.4% vs. the expected +0.3% (September was +0.3%)
Average hourly earnings, year-over-year: +4.7% vs. the expected +4.7% (September was +5.0%)
Fed wants lower job openings, an increase in the unemployment rate, and slower wage growth. The jobs report plays a significant role in determining the terminal rate.
https://www.bls.gov/news.release/empsit.nr0.htm
