Jobs continue to exceed expectations

Nonfarm payrolls grew by 261,000 in October, better than the estimate for 205,000.
The unemployment rate moved higher to 3.7%, while a broader jobless measure also increased, to 6.8%.
Big job gainers by industry included health care, professional and technical services, and leisure and hospitality.
Average hourly earnings rose 0.4% for the month and were up 4.7% from a year ago.
Labor force participation rate declined by one-tenth of a point to 62.2%.