October Jobs Report

This morning, the government reported that the U.S. economy created 161,000 net new jobs last month. The NFP number for September was revised higher by 35,000.

The unemployment rate fell 0.1% to 4.9%. In 12 of the last 13 months, the unemployment rate has been either 4.9% or 5.0%. We now have the second-lowest unemployment rate since 2008. The unemployment rate is lower now than it was in every single month from December 1973 to July 1997.

Average hourly earnings rose 0.4% in October, and are up 2.8% in the last year.

Get ready for some charts. Here’s the unemployment rate:

Here’s the change in non-farm payrolls:

Here’s the year-over-year change in average hourly earnings. Note the recent acceleration:

Posted by on November 4th, 2016 at 8:59 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.