October NFP = +128,000

The October jobs report is out.

The U.S. economy created 128,000 jobs last month. This is despite the GM strike.

There was also 95,000 in upward revisions (51,000 in August and 44,000 in September).

Drilling down some, the private sector added 131,000 jobs in October.

Average hourly earnings rose six cents in October to $28.18. That’s a 0.2% increase for the month and a 3% increase for the year.

The unemployment rate ticked up to 3.6%. The U-6 rate rose to 7.0%.

The labor force participation rate is 63.3%. That’s the highest since August 2013. It’s also higher than every month from 1948 until 1978.

The jobs-to-population ratio is up to 61.00%. That’s the highest since November 2008.

Posted by on November 1st, 2019 at 8:42 am


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