The Good News:
Hiring Rebounded in October, Unemployment Rate Fell to 4.1%
Nonfarm payrolls rose a seasonally adjusted 261,000
By Harriet Torry and Eric Morath, the Wall Street Journal
U.S. employers hired at a strong pace in October, and revisions showed the labor market weathered hurricane damage better than previously estimated.
Nonfarm payrolls rose a seasonally adjusted 261,000 in October, a pickup from the prior month, the Labor Department said Friday.
The unemployment rate ticked down to 4.1%, its lowest level since December 2000.
The Not So Good News:
Record 95.4 Million Americans Are No Longer In The Labor Force As 968,000 Exit In One Month
By Tyler Durden, ZeroHedge
In what was otherwise a mediocre jobs report, in which the establishment survey reported that a lower than expected 261K jobs were added to the post-Hurricane economy, the biggest surprise was not in the Establishment survey, but the household, where the unemployment rate tumbled once more, sliding to a new cycle low of 4.1%, for all the wrong reasons, because a quick look at the participation rate metrics showed that in October there was a sharp decline, with the labor force part. rate sliding from 63.1% to 62.7%, back to 4 decade lows…
We live in interesting times…