The report, which showed unexpectedly high job creation and unexpectedly low unemployment in October, had an immediate and significant impact on the market.
The dollar and market interest rates rise
The yield on a two-year US government bond rose by 0.06 percentage points to 4.53 percent. The dollar rose to 9.90 kronor, up 4-5 öre from morning trading.
“Friday's unexpectedly strong jobs report is a relief and suggests that the labor market can still create jobs, even in this high-interest-rate environment,” Clark Bellin of asset manager Bellwether Wealth told Bloomberg.
The market is on edge after the midterm elections in the United States this week, where a wave of AI concerns is spreading after Democrats unexpectedly won clear majorities in both the House of Representatives and the Senate.
Friday's report from the US Labor Department showed that 165,000 new jobs were created outside the agricultural sector in the United States in October. The average forecast among analysts was for 70,000 new jobs in October, according to Bloomberg.
The unemployment rate was 4.1 percent in October, compared with 4.2 percent the previous month.
Revising previous job figures upward
The October job figure can be compared with 60,000 new jobs in September, according to revised figures from the department. The number of new jobs in August was also revised slightly upward. Overall, the job figures for August and September increased by 84,000.
The strong figures increase the already high probability of another interest rate hike in December by the US Federal Reserve (Fed).
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