Economy adds 161,000 jobs in October, September total revised upwards to 191,000; Fed on course for December interest rate increase
The U.S. economy added 161,000 jobs in October and the Bureau of Labor Statistics revised the September job total upwards to 191,000. The original September report put the month’s job gains at 156,000. Economists surveyed by Bloomberg were expecting the economy to add 173,000 jobs in October.
Weaker than expected August jobs growth lowers odds on September interest rate move by the Fed
Take a Federal Reserve interest rate increase at the central bank’s September 21 meeting off the books. Today, the Labor Department reported that the U.S. economy added only 151,000 net new jobs in August. Economists surveyed by Bloomberg had forecast the addition of 180,000 jobs.
U.S. economy added 255,000 jobs in July
The U.S. economy added 255,000 net new jobs in July, the Bureau of Labor Statistics reported this morning. The government revised June’s jobs total upwards to 292,000. The headline unemployment rate remained at 4.9% as workers on the sidelines re-entered the labor market. The full unemployment rate, which counts discouraged workers no longer looking for a job and part-time workers who would prefer a full-time job ticked upwards to a seasonally adjusted 9.7%
Ignore the volatility in monthly jobs numbers: Today’s blowout 287,000 jobs for June puts the average about where it should be for this economy
At the same time as government statisticians announced the creation of 287,000 jobs in June, they also revised May’s already shockingly weak 38,000 job figure down to just 11,000. That leaves us looking at a swing from 11,000 to 287,000– or 276,000 jobs in a month. An $18 trillion economy just doesn’t move that fast. So somewhere in the month to month data there’s likely to be a statistical glitch.
Much better than expected initial claims for unemployment report leads markets to “pause to consider”
The financial markets have stalled today with some minor pullback as investors and traders try to figure out what this morning’s better than predicted report on initial claims for unemployment means in the context of the worse than expected report of just 38,000 jobs created in May
Another indicator of modest U.S. economic strength from today’s initial claims numbers
Forecasts that the U.S. is headed into recession took another lump from the economic data with today’s release of the showing that initial claims for unemployment fell by 7,000
Dip in initial claims for unemployment supports Fed’s case that jobs market is improving
Initial jobless claims fell modestly in the week ended on November 14 to 271,000 from 276,000 in the prior week. That kept the initial claims number near forty-year lows
Decent jobs report for June points away from September interest rate increase by the Federal Reserve
The U.S. economy added 223,000 jobs in June. Decent news on job growth but certainly not the picture of an economy about to see inflation skyrocket or growth accelerate.
Saturday Night Quarterback says, For the week ahead expect…
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Good jobs gain but drop in wages raises slight worry about U.S. growth
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