Non-farm payrolls in the US added 165,000 new jobs in October, and recruitment picked up, exceeding Wall Street expectations, showing that the fundamentals of the US labor market are still stable. The US Bureau of Labor Statistics released the data on Friday; the new employment data was revised upward to 60,000 people in September. The published value is higher than the 65,000 expected in the Bloomberg analysts' survey. After the data was released, US bond yields and the US dollar rose simultaneously, and traders quickly raised their expectations for interest rate hikes. The two-year US Treasury yield, which is highly sensitive to monetary policy, rose 0.06 percentage points to 4.53%. When this employment data was released, the Democratic Party had just won a big victory in this week's midterm elections and took control of Congress, which is a clear denial of President Trump. The core selling point of Trump's previous campaign was strong economic fundamentals, including high GDP growth and low unemployment. However, polls show that the situation in Iran has caused rising inflation to squeeze residents' incomes, and voters are not feeling the economic dividends. The market expects the Federal Reserve to raise interest rates next month; the labor market remains resilient, leaving room for the Fed to take measures to curb inflation. Federal Reserve Chairman Kevin Walsh emphasized the strong recruitment momentum last week, when the central bank chose to keep interest rates unchanged.

Non-farm payrolls in the US added 165,000 new jobs in October, and recruitment picked up, exceeding Wall Street expectations, showing that the fundamentals of the US labor market are still stable. The US Bureau of Labor Statistics released the data on Friday; the new employment data was revised upward to 60,000 people in September. The published value is higher than the 65,000 expected in the Bloomberg analysts' survey. After the data was released, US bond yields and the US dollar rose simultaneously, and traders quickly raised their expectations for interest rate hikes. The two-year US Treasury yield, which is highly sensitive to monetary policy, rose 0.06 percentage points to 4.53%. When this employment data was released, the Democratic Party had just won a big victory in this week's midterm elections and took control of Congress, which is a clear denial of President Trump. The core selling point of Trump's previous campaign was strong economic fundamentals, including high GDP growth and low unemployment. However, polls show that the situation in Iran has caused rising inflation to squeeze residents' incomes, and voters are not feeling the economic dividends. The market expects the Federal Reserve to raise interest rates next month; the labor market remains resilient, leaving room for the Fed to take measures to curb inflation. Federal Reserve Chairman Kevin Walsh emphasized the strong recruitment momentum last week, when the central bank chose to keep interest rates unchanged.