WASHINGTON — The U.S. October employment data showed somewhat mixed results, with payrolls playing catch-up to validate a declining unemployment rate but with companion data a little weaker. Moreover, the report mainly was processed before Hurricane Sandy struck, so there was no storm effect.

Overall the October employment report was on the strong side, with October payrolls printing up 171,000 and September-August jobs revised up 84,000 in total, showing catch-up to the better trends seen in the household survey. Payrolls are our favorite gauge of jobs because the survey from which they derive has a larger sample and a smaller margin of error than the household survey.

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