The U.S. economy added 250,000 jobs in October, unemployment stays at 3.7 percent

[BumRushDaShow]

Source: Washington Post

The U.S. economy added 250,000 jobs in October, federal economists reported Friday. The unemployment rate stayed at 3.7 percent.

The latest job market snapshot from the Bureau of Labor Statistics is the last before
the midterm elections, and it arrived three weeks after Hurricane Michael pummeled the Florida panhandle and Georgia, knocking some people temporarily out of work.

Michael’s destruction followed Hurricane Florence, which devastated homes and roads in the Carolinas with flooding.

Average hourly earnings rose by 3.1 percent over the year that ended in October, the first time in nearly a decade that annual wage growth broke 3 percent. The country now has 7.1 million openings, a record high, the Labor Department announced Tuesday.

Read more: https://www.washingtonpost.com/business/economy/the-us-economy-added-jobs-in-october-unemployment-at-percent/2018/11/02/3c982efe-de08-11e8-b3f0-62607289efee_story.html

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More info will be incoming!

This looks to be higher than expected.

[BeyondGeography]

1. Too bad very stable genius didn't make this midterm about the economy

Oh well. Statistics are dull anyway.

[secondwind]

2. Sounds hard to believe, almost.

[Iliyah]

3. I don't see it from where I am . . .

I guess people working 2 - 4 jobs trying to keep from sinking is ok with the elite, but not so much for the consumers. Consumers are the key to a robust economy which I see as slowly tanking. The rich is happy tho.

[Mad-in-Mo]

11. This is what I see, too.

People are underemployed. We advertised through Indeed for a secretarial job in my office. 250 applicants, and only about 10% were qualified. Apparently, the others are desperately trying to find anything that pays better. It was eye opening. We even had a roofer and an ex mortician apply.

[Maxheader]

4. Watch it!!

You'll get flogged here for promoting the rightys..

[BumRushDaShow]

6. LOL

Waiting for mahatmakanejeeves to get in this morning to add his monthly BLS data.

But as a note - I do recall a few sources early this week predicting +187,000 and then later this week +200,000, so this is above those projections. Of course that could all be revised downwards next month.

[TexasBushwhacker]

5. 18 states raised their minimum wage

You can thank Democrats for that.

[watoos]

7. Remember when Trump called these statistics fake?

I laughed at Trump because statistics are what they are but I would feel better if I knew that it is the same people in the Labor department putting out these statistics today.

Not that I don't trust Trump to somehow rig the stats, but I don't trust Trump. I guess they are accurate because this economic boom is fueled by borrowing money because of corporate tax cuts, deregulations, allowing offshore untaxed money to be brought back for pennies on the dollar, interest rates are being raised. Everything that has been done should create an economic boom in the short term.

Wages better keep pace because the cost of living went up 2.8% last year and interest rates are rising. If gasoline prices go up the economy won't do so well. Putin and Saudi Arabia are going to want higher oil prices pretty soon.

[BumRushDaShow]

10. Well the worst offender was this jackass

Of course, now Kudlow is in the administration.

[moondust]

13. Fake?

19 times Trump called jobs numbers ‘fake’ before they made him look good

I, too, have a hard time believing anything that comes out of the Drumpf administration.

[Bengus81]

14. And....add 6% to any and all Obama unemployment numbers. Trump spewed that shit year after year....

[mahatmakanejeeves]

8. Links to earlier reports:

[center]Past Performance is Not a Guarantee of Future Results.[/center]

Nonetheless, what is important is not this month's results, but the trend. Let’s look at some earlier numbers:

ADP^® (Automatic Data Processing), for employment in October 2018:

ADP National Employment Report: Private Sector Employment Increased by 227,000 Jobs in October 2018:

Bureau of Labor Statistics, for employment in September 2018:

Unemployment rate declines to 3.7% in September; payroll employment increases by 134,000

ADP^® (Automatic Data Processing), for employment in September 2018:

U.S. adds 230,000 private-sector jobs in September: ADP

Bureau of Labor Statistics, for employment in August 2018:

U.S. Added 201,000 Jobs in August; Unemployment Rate Steady at 3.9%

ADP^® (Automatic Data Processing), for employment in August 2018:

U.S. Firms in August Added Fewest Workers in 10 Months, ADP Says

Bureau of Labor Statistics, for employment in July 2018:

Payroll employment increases by 157,000 in July; unemployment rate edges down to 3.9%

ADP^® (Automatic Data Processing), for employment in July 2018:

ADP National Employment Report: Private Sector Employment Increased by 219,000 Jobs in July

Bureau of Labor Statistics, for employment in June 2018:

U.S. Added 213,000 Jobs in June; Unemployment Ticks Up to 4%

ADP^® (Automatic Data Processing), for employment in June 2018:

ADP National Employment Report: Private Sector Employment Increased by 177,000 Jobs in June

Bureau of Labor Statistics, for employment in May 2018:

U.S. economy extends its hiring spree, with a better than expected 223,000 new jobs in May

ADP^® (Automatic Data Processing), for employment in April 2018:

U.S. adds 204,000 private-sector jobs in April, ADP report shows

Bureau of Labor Statistics, for employment in March 2018:

Payroll employment edges up by 103,000 in March; unemployment rate unchanged at 4.1%

ADP^® (Automatic Data Processing), for employment in March 2018:

Manufacturing Industry Has Strongest Jobs Increase in Three Years

Bureau of Labor Statistics, for employment in February 2018:

Payroll employment increases by 313,000 in February; unemployment rate unchanged at 4.1%

ADP^® (Automatic Data Processing), for employment in February 2018:

ADP National Employment Report: Private Sector Employment Increased by 235,000 Jobs in February

Bureau of Labor Statistics, for employment in January 2018:

Payroll employment increases by 200,000 in January; unemployment rate unchanged at 4.1%

ADP^® (Automatic Data Processing), for employment in January 2018:

U.S. Private Sector Added 234,000 Jobs in January

Bureau of Labor Statistics, for employment in December 2017:

Payroll employment increases by 148,000 in December; unemployment rate unchanged at 4.1%

ADP^® (Automatic Data Processing), for employment in December 2017:

U.S. private sector adds 250,000 jobs in December, biggest rise since March

Bureau of Labor Statistics, for employment in November 2017:

Payroll employment increases by 228,000 in November; unemployment rate unchanged at 4.1%

ADP^® (Automatic Data Processing), for employment in November 2017:

I didn't get around to it.

Bureau of Labor Statistics, for employment in October 2017:

Payroll employment rises by 261,000 in October; unemployment rate edges down to 4.1%

ADP^® (Automatic Data Processing), for employment in October 2017:

ADP says 235,000 private-sector jobs added in October

Bureau of Labor Statistics, for employment in September 2017:

Unemployment rate falls to 4.2% in September; payroll employment changes little (-33,000)

ADP^® (Automatic Data Processing), for employment in September 2017:

Companies Add Fewest U.S. Workers in Nearly a Year, ADP Says

[BumRushDaShow]

9. 'Morning and TGIF!

[DrToast]

12. This is a solid report and good news

Wagers are rising, which is good bebause so is inflation.

You can hate Trump and still be happy about this report.