Bottom line: Decent jobs report. The economy pumped out 171,000 new jobs in October. (Wall Street eggheads expected 125,000.) The number of jobs produced in prior months were revised higher too. Unemployment ticked up slightly to 7.9%, from the previously reported 7.8% in September. The Twittertariat is pouring over the internals of the report. Here’s some of what they’re finding.
Over past 12 months, hourly earnings up 1.6%.Consumer prices up 2.0% — David Wessel (@davidmwessel) November 2, 2012
Oct. jobless rate for people 25+ with bachelor’s degree: 3.8% (Sept: 4.1%). High school grads: 8.4%. Less than high school diploma: 12.2%
— Sudeep Reddy (@Reddy) November 2, 2012
Sharp upward revisions to two prior months showed additional 84,000 jobs.
— Pedro da Costa (@pdacosta) November 2, 2012
Most job gains in full-time work. But avg workweek unchanged. Hourly earnings tick down slightly.
— Ben Casselman (@bencasselman) November 2, 2012
Unemployment rate and employment:population ratio both up in household survey on higher participation.
— Matt Yglesias (@mattyglesias) November 2, 2012
Increasingly likely this will be the first year in four years that government jobs do not post an annual decline. (Up 20k year to date.)
— Binyamin Appelbaum (@BCAppelbaum) November 2, 2012
Nice 17k gain in construction jobs, led by specialty trade contractors. Fits with housing rebound story.
— Neil Irwin (@Neil_Irwin) November 2, 2012
October: civilian labor force rose by 578,000; labor force participation inched up to 63.8%percent. Total employment +410,000
— West Wing Reports (@WestWingReport) November 2, 2012