Employment Situation Report for October 2015

The Employment Situation Report for October 2015 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Predicted: +190,000
Actual: +271,000

Unemployment Rate
Predicted: 5.0%
Actual: 5.0%

Average Hourly Earnings (month-to-month change)
Predicted: +0.2%
Actual: +0.4%

Average Workweek
Predicted: 34.5 hrs
Actual: 34.5 hrs

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

From today's report:

"...The change in total nonfarm payroll employment for August was revised from +136,000 to +153,000, and the change for September was revised from +142,000 to +137,000. With these revisions, employment gains in August and September combined were 12,000 more than previously reported. Over the past 3 months, job gains have averaged 187,000 per month..."

"...Total nonfarm payroll employment increased by 271,000 in October. Over the prior 12 months, employment growth had averaged 230,000 per month. In October, job gains occurred in professional and business services, health care, retail trade, food services and drinking places, and construction..."

"...The civilian labor force participation rate was unchanged at 62.4 percent in October, following a decline of 0.2 percentage point in September. The employment-population ratio, at 59.3 percent, changed little in October and has shown little movement over the past year..."

"...Employment in mining continued to trend down in October (-5,000). The industry has shed 109,000 jobs since reaching a recent employment peak in December 2014..."

Click here to view the full Department of Labor report.

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