Current: US labor market data significantly better

With 128,000 new jobs, the US labor market data (October) turned out better than expected (forecast was 85,000 new jobs). The two previous months were revised upwards by a total of 95,000 jobs. The strike at GM has deducted 36,000 jobs from the October figure. In Manufacturing, however, 36,000 jobs were lost.

US hourly wages are +0.2% compared to the previous month and +3.0% compared to the same month of the previous year (forecast was +0.3% compared to the previous month and +3.0% compared to the same month of the previous year; previous month was +0.4% and +2.9%).

The US unemployment rate is 3.6% (forecast was 3.6%; previous month was 3.5%).

The participation rate is 63.3% (forecast was 63.2%; previous month was 63.2%).

We will analyse the data in more detail in a follow-up article.

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