More on the Employment Report

I have taken a look at the BLS release of NFP for October last Friday.

• Average weekly hours were 33.6 for October, down .1 hours from September and even with October 2012.
• Average hourly earnings came in at $20.26 up .02 from September and up .44 from October 2012.
• Temp hiring has dropped to 3.3 from 11.4 in September and 9.0 in October 2012.

Overall the numbers came in pretty good but these 3 details found within the Establishment data show that there is some weakness in the employment situation going forward as well.

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.