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Thread: Employment Situation Report for October

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    Employment Situation Report for October

    Employment Situation Summary

    Non-Farm Payroll employment: UP 214,000 and August and September were revised UP by 31,000

    Unemployment Rate: DOWN from 5.9% to 5.8% (U2, U4, U5, and U6 measures of underutilization also dropped. No change in the U1.)
    Labor Force Level: UP 416,000
    Labor Force Participation Rate: UP from 62.7% to 62.8%
    Employment to Population ratio: UP from 59% to 59.2%
    Not in the Labor Force: DOWN 206,000
    Discouraged workers: UP 72,000

    Those who usually work Full Time: UP 345,000
    Part time: UP 334,000
    Part Time for Economic Reasons: DOWN 76,000
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: Employment Situation Report for October

    Oh, and before someone tries to claim "But Christmas Hiring!!!!"....the Not Seasonally Adjusted increase in non-farm payroll employment was 1,054,000, knocked down to 214,000 after accounting for seasonal hiring.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: Employment Situation Report for October

    I don't think anyone is going to suggest seasonal hiring occurred in October, or that it resulted in the number of payroll prints for that matter. The number of jobs created falls in line with the number of jobs created since the economy entered the recovery. Hiring isn't taking off, or growing exponentially. It's just... average. The problem aren't the number of jobs created. They're the type of jobs that are created.

    Also, you forgot a couple of data points which relates to employment.

    Average hourly earnings: +0.03
    Average hourly earnings of private-sector production and nonsupervisory employees: +0.04
    Annualised Growth: 2%

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    Re: Employment Situation Report for October

    Quote Originally Posted by WallStreetVixen View Post
    They're the type of jobs that are created.
    Please, tell us your concerns about that.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: Employment Situation Report for October

    We can see that while nonfarm employment increased by 214,000 in October, there are still problems. The two biggest employers were food services/drinking places and retail, accounting for 42,000 and 27,000 jobs, respectively or a total of 32.2% of job growth. This is a problem as generally food service and retail pay minimum wage or at least close to it. So while people are gaining jobs, the jobs aren't particularly lucrative. This is also important due to the fact that many people working minimum wage jobs make so little that they can't support themselves and thus must go on some form of public assistance.

    EDIT: Also, please note that the labor participation rate has barely changed from earlier this year. http://data.bls.gov/timeseries/LNS11300000

    As you can see from the below graph, taken from the BLS website, we've been in an overall decline since about 2010.

    EDIT 2: Thus, we can see that there are larger factors at play with regards to the LPR decreasing than just people retiring, especially since many older people have put off retirement due to the bad economy. (http://www.cbsnews.com/news/why-are-...ff-retirement/)

    Last edited by Mr. Invisible; 11-07-14 at 12:02 PM.
    "And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."

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    Re: Employment Situation Report for October

    The report sounds good. We haven't had this low of unemployment since July 2008, and we have not had 9 months of 200k job creation since 1995. If we can only get those wages up and participation. Other than that...don't screw us now housing market.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Employment Situation Report for October

    Quote Originally Posted by Gimmesometruth View Post
    Please, tell us your concerns about that.
    The types of jobs being created are not the jobs the economy needs for long-term sustainable economic growth.

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    Re: Employment Situation Report for October

    Quote Originally Posted by WallStreetVixen View Post
    The types of jobs being created are not the jobs the economy needs for long-term sustainable economic growth.
    what types of jobs are instead needed to provide a long-term sustainable economic growth?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Employment Situation Report for October

    Quote Originally Posted by WallStreetVixen View Post
    The types of jobs being created are not the jobs the economy needs for long-term sustainable economic growth.
    ...and who is at fault for that?
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: Employment Situation Report for October

    Quote Originally Posted by Gimmesometruth View Post
    ...and who is at fault for that?
    Whoever is currently in charge of getting the nation back on economic track.

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