U.S. employment remained strong; unemployment rose to 3.7%.

Michael Feroli, JP Morgan economist. U.S. employers hired more workers than expected in October, but the rise in the unemployment rate to 3.7% suggests some easing in labor market conditions, which would allow the Federal Reserve to move to smaller interest rate hikes starting in December. Nonfarm payroll jobs increased by 261,000 last month, the Labor…