“The October jobs report is unambiguously positive for the US economic outlook,” said Citigroup economist Andrew Hollenhorst. “Above-consensus hiring in October, together with upward revisions to prior months, is consistent with our view that job growth will maintain a pace of 130-150K per month. Wage growth remaining at 3.0% should further support incomes and consumption-led growth.”
Within the household survey data the civilian labor force grew by 325,000 in October; as the total civilian population grew by 207,000. Additionally the household data shows the number of people employed grew last month by 241,000.
Lowest Black Unemployment in US history
The overall unemployment rate remained relatively unchanged at 3.6 percent, and almost every category of worker is at record low unemployment rates.
Everyone that wants to work is able to find a job easily. Additionally, the year-over-year wage growth remains +3.0 percent, which is much higher than inflation.
The financial pundits are quite shocked at the strength of Main Street and reevaluating their perspectives on the U.S. economy. Here’s a few examples:
As I recall, economic numbers under Obama were usually revised “downward”. Paint a rosy picture on the initial report then quietly issue the correction later hoping nobody noticed. Seems to be the opposite under Trump.
I never really cared for these reports. All someone needs to do is work one hour in a month and they would be considered “employed” for the purposes of this report. That’s not a reliable indicator of employment.
Dude! The economy is doing good! Don’t throw a wet blanket on it! With Low inflation there is a case to be made to which the FED should lower rates even lower!
Exactly. The report is um…meaningless. What’s really important is that America is descending into record debt because this pos lying fake president is signing record budget deficits after having promised to pay off the national debt and run balanced budgets. Fuck Trump
Hey Monte, I just want you to know I just finished my Google analytics course! I used your posts to see how many of them you not only mention Trump, but how many of them is about Trump. I am going to post the findings here for the month of October! Pretty astonishing to say in the least as the sample size has reached over the 90 percentile for the month of October!
