Jobs Report: U.S. Economy Added 214000 Jobs In October, Unemployment ...

Friday morning The Bureau of Labor Statistics released a weaker than anticipated October jobs report but significant revisions to its August and September readings.

Employers added 214,000 jobs last month compared to the 230,000 or so economists were predicting. The unemployment rate, which is drawn from a different survey of households, ticked down from 5.9% to 5.8% the lowest level since the recession.

The already strong September payroll count was revised higher from plus 248,000 to plus 256,000. The once disappointing August number was also bumped higher from plus 180,000 to plus 203,000. January is now the only month of 2014 with job gains below 200,000. Total employment gains in August and September were therefore 31,000 greater than what BLS - a division of the Department of Labor - previously reported.

Average hourly earnings were up 3 cents in October to $24.57, maintaining a year-over-year growth rate of 2%. The workweek was 34.6 hours. The labor force participation rate notched up from 62.7% to 6.8%. The employment-population ratio was up to 59.2% after four months in a row at 59%.

Immediately following the news the S&P 500, The Dow Jones Industrial Average and Nasdaq Composite were solidly in the the green improving upon a slightly positive trend leading up to the pre-bell report. The 10-year Treasury note yield was up to 2.39%.

Check back for more.

-

Follow @samsharf

Lokasi:

Share :