Payroll, Jobs Higher Than Expected And Wall Street Nose Dives

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At a glance

  • Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday.
  • The payrolls number was well above the 200,000 estimate, while the unemployment rate was in line.
  • Average hourly earnings jumped 0.6% for the month, double the estimate, and 5.1% annually vs. the 4.6% expectation.

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