Total nonfarm payroll employment rose by 165,000 in October, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, in health care, and in transportation and warehousing.
The change in total nonfarm payroll employment for August was revised up by 53,000, from +133,000 to +186,000, and the change for September was revised up by 31,000, from +29,000 to +60,000. With these revisions, employment in August and September combined is 84,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government
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everything basically good on the employment report
there are two negatives however
1. cumulative hourly wage growth has been slightly less than the rise in the CPI the past few months.
2. the wage growth, CPI increase and low unemployment lately means the Federal Reserve will still feel pressure to increase the Federal fund rates and in the meantime, the debt markets will stick at relatively high rates for govt., corporate and individual lending.
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