October Jobs Report

Financial Review

…Economy adds 25,000 jobs in October. Unemployment rate holds at 3.7%. Wages grow at 3.1% annualized pace. Green light for Fed rate hike. Financial Review by Sinclair Noe for 11-02-2018 DOW – 109 = 25,270 SPX – 17 = 2723 NAS – 77 = 7356 RUT + 3 = 1547 10 Y + .07 = 3.21% OIL – .83 = 62.86 GOLD – .70 = 1233.20 The economy added 250,000 jobs in October. The unemployment rate held steady at 3.7%, a 48-year low. The U.S. has added an average of 213,000 jobs a month through the first 10 months of 2018, well above the 182,000 pace during the same period last year. In October, the year-over-year employment change was 2.51 million jobs. The September jobs report was revised lower, showing 16,000 fewer jobs than initially reported. The August report was revised higher, showing 16,000 more jobs than initially reported. Workers knocked off the payrolls by Hurricane Florence in September were added in October, though that artificial bump was likely offset somewhat by those whom Hurricane Michael put temporarily out of work in October. October marked the 97th consecutive month of job growth, extending an already record-making streak. Average monthly payroll increases have floated around the 210,000 mark over the past year. Last week, the government estimated that the economy grew at a hearty annualized rate of 3.5 percent in the third quarter. The amount of money the average employee earns rose 0.2% last month to $27.30 an hour. The ...

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