Employers in the United States hired more than expected in November, the jobs report showed on Friday. Despite superstorm Sandy caused havoc in the north-eastern part of the country, data showed it had little impact on the labor market as the jobless rate fell to almost a four-year low.
Change in non-farm payrolls rose 146’000 in November, versus consensus for 85’000 after rising 171’000 the previous month. Private payrolls rose 147’000 from 184’000, but beat expectations for 90’000. The unemployment rate fell to 7.7% from 7.9% against a forecast for an unchanged rate.
EUR/USD dropped to a session low by 1.2877 following the jobs report, and is trading around 1.2900 ahead of the US market open.