October NFP +204K, Unemployment 7.3%

The October jobs report is out. The economy created 204,000 new jobs last month. Plus, the report for September was revised higher by 60,000 and the report for August was revised higher by 45,000.

The unemployment rate ticked up to 7.3%, but if we work out the decimals, the increase was only 0.045%. We now have the lowest jobs-to-population ratio in 27 months.

From peak to trough, NFP fell by 8.736 million in 25 months. In 44 months since the low, we’ve gained back 7.234 million. In seven years, NFP has increased by 1,000.

In October, the number of Americans either unemployed or out of the workforce entirely came to 102.813 million. That’s an all-time high and it’s up 22.3% in 10 years.

fredgraph11082013

Posted by on November 8th, 2013 at 8:58 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.