Bloomberg Surveillance

Employment growth in the US last month exceeded all projections, the jobless rate fell and worker pay rose as solid economic activity bolstered the labor market.

China’s economic planning agency flagged weak demand as a challenge for the country as policymakers study measures for next year, according to a statement Friday.

Pablo Hernández de Cos, one of two candidates in the running to replace Christine Lagarde as president of the European Central Bank, signaled that monetary policy-makers should remain attentive to inflation risks emerging from high energy prices.

The union representing about 250 security workers at the US’s busiest ports agreed to continue negotiations on a new labor contract for two more weeks, their employers said.

White-collar consulting jobs tied to AI implementation may be joining blue-collar construction and manufacturing jobs tied to the data center buildout as a driver of US employment growth.

US consumer borrowing jumped in September by the most in nearly four years, boosted by a run-up in credit card balances and higher non-revolving credit.

Federal Reserve Bank of San Francisco President Mary Daly said more interest-rate increases are likely to be needed to tame inflation, but it’s too soon to know how much higher rates will need to go.

Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer spoke with China’s Vice Premier He Lifeng, raising concerns about Beijing’s recent actions and the importance of implementing commitments made as part of a deal reached a year ago in Busan, South Korea.

Bank of Japan Governor Kazuo Ueda said that while his nation’s inflation rate has reached policymakers’ target, it’s unclear how long it will stay there, and indicated it hasn’t yet become embedded among the broader Japanese public.

The choice for European Central Bank President Christine Lagarde’s successor probably comes down to Dutchman Klaas Knot and Spaniard Pablo Hernandez de Cos.

President Donald Trump’s chief economic adviser said the administration won’t be revamping its economic policies in the wake of Republicans’ sweeping defeat in the midterm congressional elections.

University of Michigan Surveys of Consumers Director Joanne Hsu says consumer sentiment remains sharply divided by income and wealth. Speaking on "Bloomberg Open Interest," Hsu cautions that a one-day market drop may have little effect, but prolonged weakness could undermine wealthy consumers’ willingness to spend. (Source: Bloomberg)

US consumer sentiment rose in early November to a three-month high, bolstered by modest improvements in Americans’ views of their personal finances and the economic outlook.

Here are the key takeaways from the US employment report for October, released Friday:

President Luiz Inácio Lula da Silva will likely chose Brazil’s next finance minister from within his inner circle as he seeks to mend ties with skeptical investors while keeping his government’s leftist ethos intact.

US job growth surged in October and the unemployment rate edged lower, signs of labor-market strength in an expanding economy.

Canada’s unemployment rate edged up to 6.7% in October as more people looked for work and employment fell slightly, pointing to ongoing softness in the labor market.

Abigail Watt, US economist at UBS, discusses the US jobs outlook, persistent inflation and the path for Fed policy. Watt explains why UBS expects further tightening and weighs how a slowdown in AI investment could affect US economic growth. She spoke with Guy Johnson on Bloomberg Brief. (Source: Bloomberg)

Guardrails against data-center expansion in states won by Democrats may help spread investment over time.