Fri Nov 6, 2020, 09:31 AM
BumRushDaShow (79,464 posts)
U.S. added 638,000 jobs in October, unemployment rate slides to 6.9%
Source: CNBC
Employment growth was better than expected in October and the unemployment rate feel sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists surveyed by Dow Jones had been looking for a payroll gain of 530,000 and an unemployment rate of 7.7% a touch lower than the September level of 7.9%. The report comes as the U.S. this week broke the 100,000-a-day barrier that pushed a rise in both hospitalizations and the death rate.With Federal Reserve official stressing the link between the virus and economic growth, the U.S. faces challenging months ahead. October's growth brings the total payroll gains since May to around 12 million, though that still leaves unfilled about 10 million positions lost in March and April. Read more: https://www.cnbc.com/2020/11/06/jobs-report-october-2020.html It's Friday again and stay tuned for all the details from our DU economic analysts to slice and dice the BLS data! ![]() Will update the OP as more comes in. Original headline and article - U.S. added 638,000 jobs in October, vs 530,000 expected
Nonfarm payrolls were expected to increase by 530,000 in October, according to economists surveyed by Dow Jones. ETA - it looks like someone was trying to shoe-horn in an under-7% UE rate for election week. ![]() ![]()
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17 replies, 1091 views
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Author | Time | Post |
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BumRushDaShow | Nov 2020 | OP |
mahatmakanejeeves | Nov 2020 | #1 | |
BumRushDaShow | Nov 2020 | #2 | |
mahatmakanejeeves | Nov 2020 | #5 | |
Freethinker65 | Nov 2020 | #3 | |
machoneman | Nov 2020 | #4 | |
yaesu | Nov 2020 | #6 | |
mountain grammy | Nov 2020 | #7 | |
BumRushDaShow | Nov 2020 | #8 | |
mountain grammy | Nov 2020 | #11 | |
BumRushDaShow | Nov 2020 | #13 | |
mahatmakanejeeves | Nov 2020 | #9 | |
progree | Nov 2020 | #10 | |
BumRushDaShow | Nov 2020 | #12 | |
progree | Nov 2020 | #14 | |
BumRushDaShow | Nov 2020 | #15 | |
mahatmakanejeeves | Nov 2020 | #16 | |
mahatmakanejeeves | Nov 2020 | #17 |
Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 09:32 AM
mahatmakanejeeves (35,817 posts)
1. Good morning. From the source:
Nonfarm payroll employment rises by 638,000 in October; unemployment rate declines to 6.9%
Economic News Release USDL-20-2033
Employment Situation Summary Transmission of material in this news release is embargoed until 8:30 a.m. (ET) Friday, November 6, 2020 Technical information: Household data: [email protected] * www.bls.gov/cps Establishment data: [email protected] * www.bls.gov/ces Media contact: (202) 691-5902 * [email protected] THE EMPLOYMENT SITUATION -- OCTOBER 2020 Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. Fornmore information about the concepts and statistical methodology used in these two surveys, see the Technical Note. Household Survey Data In October, the unemployment rate declined by 1.0 percentage point to 6.9 percent, and the number of unemployed persons fell by 1.5 million to 11.1 million. Both measures have declined for 6 consecutive months but are nearly twice their February levels (3.5 percent and 5.8 million, respectively). (See table A-1. For more information about how the household survey and its measures were affected by the coronavirus pandemic, see the box note at the end of this news release.) Unemployment rates declined among all major worker groups in October. The rate was 6.7 percent for adult men, 6.5 percent for adult women, 13.9 percent for teenagers, 6.0 percent for Whites, 10.8 percent for Blacks, 7.6 percent for Asians, and 8.8 percent for Hispanics. (See tables A-1, A-2, and A-3.) {snip} The average workweek for all employees on private nonfarm payrolls was unchanged at 34.8 hours in October. In manufacturing, the workweek increased by 0.3 hour to 40.5 hours, and overtime rose by 0.2 hour to 3.2 hours. The average workweek for production and nonsupervisory employees increased by 0.1 hour to 34.2 hours. (See tables B-2 and B-7.) The change in total nonfarm payroll employment for August was revised up by 4,000 from +1,489,000 to +1,493,000, and the change for September was revised up by 11,000 from +661,000 to +672,000. With these revisions, employment in August and September combined was 15,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.) _____________ The Employment Situation for November is scheduled to be released on Friday, December 4, 2020, at 8:30 a.m. (ET). {snip} * * * * * [center]Facilities for Sensory Impaired[/center] Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339. |
Response to mahatmakanejeeves (Reply #1)
Fri Nov 6, 2020, 09:34 AM
BumRushDaShow (79,464 posts)
2. TGIF!
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Response to mahatmakanejeeves (Reply #1)
mahatmakanejeeves This message was self-deleted by its author.
Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 09:35 AM
Freethinker65 (7,313 posts)
3. Added? I returned to my part time retail job in October after being furloughed for 6 months
Is that considered an "added" job? With pandemic cases soaring again, another furlough may be in my future.
We have actually added two NEW seasonal employees this November. Last year by this time we had added at least 6 seasonal employees. |
Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 09:40 AM
machoneman (2,495 posts)
4. Great news! Too late for Trumpyboy to get any credit even thoug he'll claim it. I do hope....
...things start picking up even more rapidly to give Joe and Kamala abig boost even before they kick fatass out of the WH.
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Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 09:49 AM
yaesu (5,884 posts)
6. and the Earth is flat too, you betcha nt
Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 10:19 AM
mountain grammy (22,935 posts)
7. The fact that there's any economy left at all
is a tribute to what was built by President Obama..
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Response to mountain grammy (Reply #7)
Fri Nov 6, 2020, 10:19 AM
BumRushDaShow (79,464 posts)
8. Yup.
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Response to BumRushDaShow (Reply #8)
Fri Nov 6, 2020, 10:41 AM
mountain grammy (22,935 posts)
11. of course I should add and
Vice President, now President elect, Joe Biden.
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Response to mountain grammy (Reply #11)
Fri Nov 6, 2020, 10:44 AM
BumRushDaShow (79,464 posts)
13. This Philly girl is happy as a clam about that!!
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Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 10:32 AM
mahatmakanejeeves (35,817 posts)
9. Links to earlier reports:
Response to BumRushDaShow (Original post)
Fri Nov 6, 2020, 10:40 AM
progree (7,898 posts)
10. Links to some BLS Data Series Numbers and Graphs. And some key numbers
Everyone of these data series comes with a table and graph.
# Nonfarm Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0000000001 Monthly changes (in thousands): https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth 2019: 269 1 147 210 85 182 194 207 208 185 261 184 NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0000000001 # Employed in thousands from the separate Household Survey, http://data.bls.gov/timeseries/LNS12000000 Monthly changes (in thousands): http://data.bls.gov/timeseries/LNS12000000?output_view=net_1mth 2019: -198 239 -125 -45 148 304 198 549 403 246 -8 267 NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/LNU02000000 # Nonfarm PRIVATE Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0500000001 Monthly changes: https://data.bls.gov/timeseries/CES0500000001?output_view=net_1mth ^-Good for comparison to the ADP report that typically comes out a few days earlier NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0500000001 # INFLATION ADJUSTED Weekly Earnings of Production and Non-Supervisory Workers http://data.bls.gov/timeseries/CES0500000031 # Labor Force http://data.bls.gov/timeseries/LNS11000000?output_view=net_1mth The labor force is the sum of employed and unemployed. To count as unemployed, one must have actively sought work in the past 4 weeks (just looking at want ads and job postings doesn't count) # Unemployed http://data.bls.gov/timeseries/LNS13000000 2020: 5892 5787 7140 23078 20985 17750 16338 13550 12580 11061 (in thousands) (but continuing claims for unemployment insurance IN ALL PROGRAMS for the week ending October 17 was 21509 thousand, it's higher because, because, because it's not lower and its not the same, that's why ![]() https://www.dol.gov/ui/data.pdf # ETPR (Employment-To-Population Ratio) aka Employment Rate http://data.bls.gov/timeseries/LNS12300000 # LFPR (Labor Force Participation rate) http://data.bls.gov/timeseries/LNS11300000 # Unemployment rate http://data.bls.gov/timeseries/LNS14000000 # U-6 unemployment rate http://data.bls.gov/timeseries/LNS13327709 # NILF -- Not in Labor Forcehttp://data.bls.gov/timeseries/LNS15000000 # NILF-WJ -- Not in Labor Force, Wants Job http://data.bls.gov/timeseries/LNS15026639 # Part-Time Workers who want Full-Time Jobs (Table A-8's Part-Time For Economic Reasons) http://data.bls.gov/timeseries/LNS12032194 # Part-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12600000 # Full-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12500000 # Multiple Jobholders as a Percent of Employed (Table A-9) https://data.bls.gov/timeseries/LNS12026620 # Civilian non-institutional population https://data.bls.gov/timeseries/LNS10000000 # Black unemployment rate https://data.bls.gov/timeseries/LNS14000006 First 10 months of 2020: 6.0 5.8 6.7 16.7 16.8 15.4 14.6 13.0 12.1 10.8 Trump: "what have you got to lose?" # Hispanic or Latino unemployment rate https://data.bls.gov/timeseries/LNS14000009 First 10 months of 2020: 4.3 4.4 6.0 18.9 17.6 14.5 12.9 10.5 10.3 8.8 # White unemployment rate https://data.bls.gov/timeseries/LNS14000003 First 10 months of 2020: 3.1 3.1 4.0 14.2 12.4 10.1 9.2 7.3 7.0 6.0 LFPR - Labor Force Participation Rate for some age groups The LFPR is the Employed + jobless people who have looked for work in the last 4 weeks (and say they want a job and are able to take one if offered). All divided by the civilian non-institutional population age 16+. SA means Seasonally adjusted. NSA means Not Seasonally Adjusted 16+: SA: http://data.bls.gov/timeseries/LNS11300000 NSA: http://data.bls.gov/timeseries/LNU01300000 25-34: SA: http://data.bls.gov/timeseries/LNS11300089 NSA: http://data.bls.gov/timeseries/LNU01300089 25-54: SA: http://data.bls.gov/timeseries/LNS11300060 NSA: http://data.bls.gov/timeseries/LNU01300060 55+: SA: http://data.bls.gov/timeseries/LNS11324230 NSA: http://data.bls.gov/timeseries/LNU01324230 65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU01300097 LFPR - Labor Force Particpation Rate (prime age 25-54) by gender All: http://data.bls.gov/timeseries/LNS11300060 Men: http://data.bls.gov/timeseries/LNS11300061 Women: http://data.bls.gov/timeseries/LNS11300062 ETPR - Employment to Population Ratio for some age groups SA means Seasonally adjusted. NSA means Not Seasonally Adjusted 16+: SA: http://data.bls.gov/timeseries/LNS12300000 NSA: http://data.bls.gov/timeseries/LNU02300000 25-34: http://data.bls.gov/timeseries/LNS12300089 NSA: http://data.bls.gov/timeseries/LNU02300089 25-54: SA: http://data.bls.gov/timeseries/LNS12300060 NSA: http://data.bls.gov/timeseries/LNU02300060 55+: SA: http://data.bls.gov/timeseries/LNS12324230 NSA: http://data.bls.gov/timeseries/LNU02324230 65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU02300097 |
Response to progree (Reply #10)
Fri Nov 6, 2020, 10:43 AM
BumRushDaShow (79,464 posts)
12. Good happy happy morning and TGIF
I know you had to do a major shifting of gears but you'll be back to the other statistically rich event when this project is done.
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Response to BumRushDaShow (Reply #12)
Fri Nov 6, 2020, 10:49 AM
progree (7,898 posts)
14. Yes, a very happy morning to you too. Just heard the news on the "other statistically rich event"
Georgia a blue state?
![]() ![]() ![]() And Pennsylvania finally (ahem) coming through ![]() ![]() ![]() ![]() Nice to see we got the infamous 2016 "trifecta" of Wisconsin, Michigan, and Pennsylvania back to blue. The other statistically rich event (besides the jobs report and the election), unfortunately, is Covid19. Minnesota is now #10 in highest daily new cases per capita, 7 day moving average (our U.S. neighbors are #1, #2, #3, and #5 -- NoDak, SoDak, Wisconsin, and Iowa). I was hoping we (in Minnesota) were doing something right, as until about a week ago or maybe 2 weeks ago we had long ranked #18 to #20, while NoDak, SoDak, and Wisconsin were #1, #2, and #3 or #4. (Iowa's ranking ranged from about #5 to #8). But nope, we're getting infected now almost as badly as our neighbors. |
Response to progree (Reply #14)
Fri Nov 6, 2020, 10:54 AM
BumRushDaShow (79,464 posts)
15. See? Lots of balls in the air
![]() COVID-19 is going to be a nightmare for the next couple years. ![]() |
Response to BumRushDaShow (Original post)
Sat Nov 7, 2020, 09:47 AM
mahatmakanejeeves (35,817 posts)
16. Links to charts and graphs from the BLS Twitter account:
Nonfarm payroll employment rises by 638,000 in October; unemployment rate declines to 6.9% http://go.usa.gov/vrK #JobsReport #BLSdata Link to tweet See our interactive graphics on today’s #JobsReport http://go.usa.gov/cn5B4 #BLSdata #DataViz Link to tweet Understanding BLS Unemployment Statistics #JobsReport #BLSdata Link to tweet |
Response to BumRushDaShow (Original post)
Sat Nov 7, 2020, 09:47 AM
mahatmakanejeeves (35,817 posts)
17. Additional links:
It used to be that you could get free access to articles in The Wall Street Journal. by going in through TWSJ.'s Twitter account or the Twitter accounts of the authors:
How to get around the paywall to read articles in The Wall Street Journal.:
For free access to articles in The Wall Street Journal., trying going in through the authors' Twitter feeds: This trick doesn't seem to work anymore, but you might be able to get in if they've slipped up. Here are those accounts: * * * * * The Wall Street Journal.: @WSJ https://twitter.com/wsj Wall Street Journal * * * * * Ben Leubsdorf: @BenLeubsdorf https://twitter.com/BenLeubsdorf I cover the economy at @WSJ. @ConMonitorNews, @AP, @the_herald alum. DC native. Hyperactive news omnivore. Also I like burritos. [email protected] * * * * * Josh Zumbrun: @JoshZumbrun https://twitter.com/JoshZumbrun National economics correspondent for the Wall Street Journal. Covering the world's usual state of greed and disorder, confusion and apathy. [email protected] * * * * * Nick Timiraos: @NickTimiraos https://twitter.com/NickTimiraos National economics correspondent, The Wall Street Journal Please look at the tweets, as Nick Timiraos likes to slice and dice the data every which way. Also, link to the "11 charts " article from his Twitter feed to get past TWSJ.'s paywall. * * * * * Jeffrey Sparshott: @jeffsparshott https://twitter.com/jeffsparshott [email protected] * * * * * Paul Vigna: @paulvigna https://twitter.com/paulvigna Markets, bitcoin, and the zombie apocalypse. * * * * * Eric Morath: @EricMorath https://twitter.com/EricMorath [email protected] I'm a Wall Street Journal economy reporter, dad, husband and Spartan for life. [email protected] * * * * * Sarah Chaney: @sechaney https://twitter.com/sechaney Economy Reporter at The Wall Street Journal. Tar Heel. [email protected] * * * * * ![]() |