Stupendously Splendid Jobs Report – October Jobs +128,000, Aug/Sept Revisions +95,000, Wage Growth +3.0%…

Jumpin’ ju-ju bones, the October jobs report has blown away all expectations in every possible metric.  It’s not just the top-line job gains, the two month revisions are huge.

The Bureau of Labor Statistics (BLS) report for October shows 128,000 job gains; and that number includes absorption for negative impacts due to -20,000 census workers coming off federal payrolls, and -42,000 striking auto-workers.  Far better employment numbers than all projections and estimations.

Additionally, the prior two months had massive upward revisions. August was revised up by 51,000 (from +168,000 to +219,000), and the change for September was revised up by 44,000 (from +136,000 to +180,000). With these revisions, employment gains in August and September combined were 95,000 more than previously reported (BLS Link).

“The October jobs report is unambiguously positive for the US economic outlook,” said Citigroup economist Andrew Hollenhorst. “Above-consensus hiring in October, together with upward revisions to prior months, is consistent with our view that job growth will maintain a pace of 130-150K per month. Wage growth remaining at 3.0% should further support incomes and consumption-led growth.”  (link)

The strong employment results are so strong the results now have all of the financial pundits reassessing their prior perspectives on the state of the U.S. economy.

Within the household survey data the civilian labor force grew by 325,000 in October; as the total civilian population grew by 207,000.  Additionally the household data shows the number of people employed grew last month by 241,000.

[Household Survey – Table A – BLS link]

The overall unemployment rate remained relatively unchanged at 3.6 percent, and almost every category of worker is at record low unemployment rates.

Everyone that wants to work is able to find a job easily.  Additionally, the year-over-year wage growth remains +3.0 percent, which is much higher than inflation.

The financial pundits are quite shocked at the strength of Main Street and reevaluating their perspectives on the U.S. economy.  Here’s a few examples:

.

MAGAnomics,… starts every day strong with a winnamin!

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This entry was posted in Auto Sector, Big Government, Donald Trump, Economy, Election 2020, media bias, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

138 Responses to Stupendously Splendid Jobs Report – October Jobs +128,000, Aug/Sept Revisions +95,000, Wage Growth +3.0%…

  1. skipper1961 says:

    My beloved video wall!!! (RNC, 2016) (Thank you Sundance!) I was so proud knowing that as “we DID build that!!”, the future President Trump’s name would be emblazoned across it!! In retrospect, Mr. Trump was creating jobs (mine, and my fellow union brothers’ and sisters’) even BEFORE he became President! Can’t wait to “BUILD THAT (video) WALL” again in 2020!!!
    KAG 2020!!!

    Liked by 3 people

  2. dogsmaw says:

    And of course, not to be outdone…

    Like

  3. StanH says:

    This is what the left is so scared of, they may have to get a job. They’ve gotten used to being bums. It was rumored in the Ferguson riots aka shopping spree. The seething hordes hit a Pay-Less Shoe Store and the only thing left were the work boots. But this is why they must impeach President Trump before the work whistle blows.

    Liked by 1 person

  4. Doug Amos says:

    Success is no mistake!

    Like

  5. Ospreyzone says:

    Although we don’t need any more examples of success, the final affirmation that we made the RIGHT CHOICE in 2016 is the fact that the administrative state is tying so desperately to impeach him. THAT is absolute proof-positive that PDJT was exactly the right person for the job.
    God speed, Mr. President.

    Like

  6. KilroyJC says:

    The two main stumbling blocks to employers looking for employees seem to have finding people who can A) pass a drug test, and B) can show up.

    It is a major problem.

    Like

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