Jobs Report for October

Sorry for late entry, been batting a sinus infection.  The October jobs report came out on Friday and it was better than expected.

Non farm payrolls rose by 204K and the unemployment rate increased by .1% to 7.3%.

Some important notes:

• Expectations were for 120K
• Labor participation rate fell by .4% to 62.8% well below the average over the last 20 years between 66% and 67%.
• Strong positive revisions to the NFP in both August and September.
• Strong retail hiring.  Looks as if retailers are anticipating a good holiday season.
• State and local governments appear to be hiring again.

 BLS link here.

For great breakdown in Calculated Risk blog click here.