Disclaimer: this is not an investment site. Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here.
Employment data for October, 2019, link here:
- nonfarm payrolls, m/m change:
- prior: 136,000
- consensus: 90,000 (due to GM strike)
- actual: 128,000 -- wow
- unemployment rate
- prior: 3.5%
- consensus: 3.6%
- actual: 3.6% -- remains around the lowest in decades
- unemployment rate for minorities
- African-American: nudged lower to 5.4% -- a new record
- total employment: 158.5 million -- an all-time high
- average hourly earnings, y/y change: 3% gain, in line
- average work week unchanged at 34.4 hours (Obamacare mandate - 35 hours)
- average hourly earnings, m/m change
- prior: 0.0%
- consensus: 0.2%
- actual:
- but look at this -- prior data revised considerably higher:
- August's initial 168,000 estimate revised all the way up to 219,000
- September's intial 136,000 came all the way up to 180,000
- at current rate -- well above the pace needed to keep unemployment rate around its current level
- with numbers like this one has to wonder if "the Fed" misread the economy; why it had to cut rates again (this week); whether Trump actually goaded "the Fed" into acting
- market surges; Dow up 93 points
No comments:
Post a Comment