Beijing time 20:30, the U.S. released October non-farm data, with seasonally adjusted non-farm payrolls recording an increase of 12,000 jobs, far below the expected 113,000, and the previous value was revised from 254,000 to 223,000. The U.S. unemployment rate for October was recorded at 4.1%, in line with expectations and unchanged from the previous value.

The U.S. average hourly wage growth rate for October recorded 0.4%, lower than the expected 0.3%, with the previous value revised from 0.4% to 0.3%. The annual rate of average hourly wage growth for October recorded 4%, in line with expectations, with the previous value revised from 4% to 3.9%.

After the data was released, the U.S. dollar index fell sharply by more than 30 points, while spot gold briefly surged by $9. Non-U.S. currencies generally rose, with the euro rising more than 30 points against the dollar, the pound rising more than 40 points against the dollar, and the dollar falling nearly 80 points against the yen.

The most active COMEX gold futures contract saw a momentary transaction of 3,259 lots on the buy and sell side within one minute from 20:30 to 20:31 Beijing time on November 1, with a total contract value of $902 million.

Interest rate futures indicate an increased expectation of a 25 basis point rate cut by the Federal Reserve in November, with a growing likelihood of further cuts in December and 2025.

The U.S. Bureau of Labor Statistics reported that the number of unemployed in October was 7 million. These indicators are higher than a year ago, when the unemployment rate was 3.8% and the number of unemployed was 6.4 million. Breaking it down:

Among the major worker groups, the unemployment rates for adult males (3.9%), adult females (3.6%), teenagers (13.8%), whites (3.8%), blacks (5.7%), Asians (3.9%), and Latinos (5.1%) showed little change within a month.

Employment in government sectors continues to show an upward trend (increased by 40,000), similar to the previous 12 months' average monthly increase of 43,000. This month, state government employment continued to trend upward (increased by 18,000).

The healthcare industry added 52,000 jobs, consistent with the average monthly increase of 58,000 jobs over the previous 12 months.

The employment data released on Friday was collected during the week when Hurricane 'Milton' made landfall in Florida, shortly followed by Hurricane 'Helen' impacting the southeastern United States. Boeing's ongoing strike resulted in 33,000 employees stopping work, which also dragged down this figure.

The U.S. Bureau of Labor Statistics stated that hurricanes may have impacted employment data in certain industries in October. Analyst Casselman said, 'It is noteworthy that many industries we expect to be affected by the storm and strikes showed weak hiring. Manufacturing employment decreased by 46,000, likely mainly due to the Boeing employees' strike. Employment in retail, leisure, and hospitality decreased, as these industries are vulnerable to hurricane damage.'

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This article is reposted from: Jinshi Data