Forget about nuance. The October jobs report left little doubt the U.S. labor market is back with a vengeance after a two-month lull.
The 271,000 gain in payrolls was the biggest this year and exceeded all estimates in a Bloomberg survey of economists, a Labor Department report showed Friday. The jobless rate fell to a seven-year low of 5 percent and average hourly earnings over the past 12 months climbed by the most since 2009.
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