Business & Investment

531,000 jobs, 4.6% unemployment rate

NS Calculated risk of 11/05/2021 08:42:00 AM

from BLS:

Total non-farm payrolls increased 531,000 in October and the unemployment rate fell 0.2 points to 4.6%., The US Bureau of Labor Statistics reported today. Job growth was widespread, with significant job growth in leisure and hospitality, professional and business services, manufacturing, transportation and warehousing. Employment in public education declined in a month.

The change in non-farm payrolls in August increased by 117,000 from +366,000 to +483,000, and the change in September increased by 118,000 from +194,000 to +312,000. With these revisions Total employment in August and September is 235,000 more than previously reported..
Emphasis added

Click the graph to see the enlarged image.

The first graph shows the year-on-year change in non-agricultural employment since 1968.

The year-on-year change in October was 5.8 million. This was a significant increase over the previous year.

Total salary in October increased by 531,000. Private salaries increased by 604,000 and public salaries decreased by 73,000.

Salaries in August and September increased by a total of 235,000.

Employment recession, the most horrifying job chartThe second graph shows the percentage of unemployment since the onset of the recession.

The current employment recession has been by far the worst in percentage since World War II, but is now not as serious as the worst of the “Great Recession.”

The third graph shows the employment population ratio and participation rate.

Employment pop rate, participation rate, unemployment rate

The labor force participation rate did not change from 61.6% in September to 61.6% in October. This is the ratio of the working age population to the workforce.

The employment / population ratio increased from 58.7% to 58.8% (black line).

A graph of the employment and population ratio for the 25-54 age group will be posted later.

Unemployment rateThe fourth graph shows the unemployment rate.

The unemployment rate in October fell from 4.8% in September to 4.6%.

This exceeded consensus expectations and increased by 235,000 in August and September combined. Powerful report.

I’ll bring more later …

531,000 jobs, 4.6% unemployment rate 531,000 jobs, 4.6% unemployment rate

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