October Nonfarm Payroll and Unemployment Rate Predictions

[tritsofme]

The October Employment Situation Report will be released by Bureau of Labor Statistic (BLS) at 7:30am CST.

The Street expects that 160,000 thousand jobs were created in October and that the unemployment rate held steady at 5.4%.

There has been rumors that this number will be pretty good, so for the first time since the Spring I'm going to bet relatively high and say 215,000 jobs were created and the unemployment rate remained at 5.4%. It could just as easily be much lower than Wall Street expectations.

What is your prediction?

[LosinIt]

1. Is the 'jobs created' number the net number of new jobs

or do they just pretend that during that period we didn't lose 1000s of higher paying jobs while creating "would you like fries with that" jobs???

[tritsofme]

4. It is the net amount of jobs created. nt

[RevCheesehead]

2. I met someone whose unemployment has just run out -

and now she has to mortgage her home in order to survive. I said, "so, according to the repugs, you no longer appear on the unemployment list, therefore, you do not exist."

She was at the Kerry rally in Appleton, and I saw her speaking to Gov. Doyle after she spoke with me.

These are real people, dammit, and they're losing EVERYTHING!

[tritsofme]

3. The unemployment rate is calculated using the

Household Survey, which is a scientific survey of 50,000 households nation wide.

Loosing UE benefits doesn't necessarily correlate to being no longer measured in the unemployment rate.

[Skittles]

5. anyone who believes the 5.4% figure is living in dreamland

nt

[tritsofme]

6. I believe U3 is 5.5% as reported

that makes sense to me, but U6 at 9.7% also makes sense.