Russell Investments on the October Jobs Report

Strong jobs report could lead to policy moves by the Fed and European Central Bank

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Nov 08, 2015
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The October Employment Situation report released by the Bureau of Labor Statistics on Nov. 6 showed an increase in non-farm payrolls of 271,000. The month’s job increases far exceeded economists’ expectation of 190,000. Increased hiring was seen across nearly every sector with the exception of mining, logging and energy companies, which have been aggressively reducing costs through payroll reductions. For the Nov. 6 week, the Dow Jones Industrial Average finished up 1.4%, while the energy sector posted a gain of 2.6% led by Consol Energy (CNX, Financial).

In a market discussion on Friday, Adam Goff of Russell Investments gave his insight on the month’s report and its implications for the global economy.