Courtesy of Mish.
Initial Reaction
Following last month’s downside shock, comes this month’s big surprise to the upside. The Bloomberg Consensus estimate was 190,000 jobs and the headline total was 271,000. The unemployment rate declined to 5.0%, the lowest since April 2008. A rate hike in December is likely.
BLS Jobs Statistics at a Glance
- Nonfarm Payroll: +271,000 – Establishment Survey
- Employment: +320,000 – Household Survey
- Unemployment: -7,000 – Household Survey
- Involuntary Part-Time Work: -235,000 – Household Survey
- Voluntary Part-Time Work: +198,000 – Household Survey
- Baseline Unemployment Rate: -0.1 at 5.0% – Household Survey
- U-6 unemployment: -0.2 to 9.8% – Household Survey
- Civilian Non-institutional Population: +216,000
- Civilian Labor Force: +313,000 – Household Survey
- Not in Labor Force: -97,000 – Household Survey
- Participation Rate: Unchanged at 62.4 – Household Survey (a 40-year low)
October 2015 Employment Report
Please consider the Bureau of Labor Statistics (BLS) Current Employment Report.
Total nonfarm payroll employment increased by 271,000 in October, and the unemployment rate was essentially unchanged at 5.0 percent. Job gains occurred in professional and business services, health care, retail trade, food services and drinking places, and construction.
Unemployment Rate – Seasonally Adjusted
Nonfarm Employment
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