*By Carlo Versano*
Major indices ended in the red on Friday, despite a stellar employment report from the Department of Labor for the month of October.
Last month, The U.S. economy added 250,000 new jobs, average earnings climbed 3 percent year-over-year, and the unemployment rate stayed at 3.7 percent, the lowest it's been since the Nixon administration.
But the strong headline numbers make it more likely the Fed will continue raising interest rates, which will lead to more uncertainty ー especially in the housing sector. That sent stocks lower. Conflicted comments from the president's economic adviser, and then the president himself, about China and trade extended the losses later in the day.
The Dow finished down triple digits. The Nasdaq shed a percent, with Apple ($AAPL) leading the decline.
"How you interpret today's report depends on whether you're working in the market or trading based on it," Dr. Andrew Chamberlain, the chief economist at Glassdoor told Cheddar Friday.
Chamberlain was particularly encouraged by the continuing wage growth, saying it's starting to look like "real gains, not a statistical blip." He said Glassdoor's internal metrics show that wages are particularly strong in major cities like New York, San Francisco, and Los Angeles.
Still, as [outlined](https://www.bloomberg.com/news/articles/2018-11-02/millennial-men-leave-perplexing-hole-in-a-hot-u-s-labor-market) in Bloomberg Friday, there is a perplexing hole in all the positive economic news. A big chunk of millennial men aged 24-34 are still sitting on the sidelines of the job market, as the manufacturing jobs they once flocked to become more high-tech and require more specific technical skills.
"People who live outside big metro areas and don't have college degrees are really struggling to find their way in this labor market," Chamberlain said.
But he remains confident this will change, even as automation picks up. As companies become more efficient, they will seek to expand, and thus require more human capital, he said. "They'll create jobs in unexpected places."
So how much lower can the unemployment rate go? With 157 million Americans now among the ranks of the employed, the number can only rise so much.
"There's just not that much water to wring out of this labor market anymore," Chamberlain said.
For full interview [click here](https://cheddar.com/videos/october-jobs-report-shows-250-000-new-jobs-3-7-unemployment-rate).
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
