Thanks for joining us on this jobs Friday. To read more, please check out our main story, chart package and markets coverage. Here are our key takeaways from the report:

Labor market continues to strengthen. Hiring accelerated in October and the unemployment rate held at 3.7%, a 49-year low. The two longest stretches of similarly low unemployment occurred when the U.S. was engaged in the Korean and Vietnam wars.

U.S. workers saw their best pay raises in nearly a decade. Wages increased last month and advanced 3.1% from a year earlier, the best year-over-year gain for average hourly earnings since 2009.

Professional services and health care have continued to be the biggest drivers of job growth. The construction and manufacturing industries have both posted solid gains over the past year.

The report likely will keep the Federal Reserve on course to raise interest rates. Federal-funds futures suggest traders buy that argument. Fed Chairman Jerome Powell believes unemployment can remain low without triggering inflation, our Greg Ip writes.