Get more economic news and updates at
http://www.eulerhermes.us/economic-re...
There has been a firehose of economic data this week, and here are just some of the highlights. Most of the data shows an economy on solid ground.
But today’s employment report was a bit of disappointment. The US economy created +261k jobs in October, rebounding from the hurricane damaged +18k (originally -33k) of September, but well below expectations of +325k. But there are no doubt distortions through both months and one can’t expect to get all the jobs back in just one month. In fact, the average over the past two months is now +140k, which is more than either July or March, and it’s not that far from the average over the past twelve months of +175k. The leisure and hospitality industry gained +106k, reversing last month’s loss of -102k. Retail continues to suffer, losing -8k this month. But where are the construction jobs which should have appeared in the wake of the hurricanes? Construction gains were only +11k, less than the 12 month average of +17k.
The household part of the report was not good either. The unemployment rate did slip to 4.1% from 4.2%, but it was for a bad reason - the labor force fell a sharp -765k, which put the participation rate down a very big -0.4% to 62.7%. Worst of all wages were FLAT putting the y/y rate way back to +2.4% y/y, the lowest in 21 months. That is a disappointment. Last month was +2.8% and we were hoping to at least hold on to that. And the expected wage gains in construction instead fell -0.4% to +2.3% y/y.
All that said, it’s probably not enough to derail a Fed hike in December. The Fed is smart enough to realize that two hurricanes affecting 8%-9% of US GDP and population are going to distort the data. Indeed, futures markets have barely budged this morning, and remain at a 97% chance of a December hike.
euler hermes roma Economic News: Despite disappointing jobs Oct. 2017 report, economy on solid footing | |
| 1 Likes | 1 Dislikes |
| 19 views views | 60 followers |
| News & Politics | Upload TimePublished on 3 Nov 2017 |
Related keywords
euler hermes careers,current events worksheet answer key,https://www.creditkarma.com/,dan northwich,insurance premium แปลว่า,current events pokemon shuffle,credit card generator,insurance news,current events in mexico,insurance agent คือ,credit karma,euler hermes collections,insurance certificate คือ,economic news philippines,trade rocket league,economic news forex,euler hermes rating,insurance meaning,insurance premium คือ,tradescantia zebrina,current events wikipedia,economic newspaper,euler hermes wiki,current events worksheet answers,credit sesame,trade nosis,tradescantia pallida,euler hermes sa,economic news australia,insurance specialist,euler hermes france,trade sky bar precios,current events en español,insurance แปลว่า,current events in the us,current events usa,euler hermes seguros de crédito,current events worksheet,credit union 1,euler hermes eolis,insurance คือ,insurance agent,dan north swarming,current events sports,credit repair,euler hermes deutschland,credit acceptance,credit union one,euler hermes allianz,dan north agile,credit score range,insurance company,insurance คืออะไร,dan north book,insurance broker,insurance policy คือ,euler hermes north america,euler hermes uk,economic news in nigeria,trade map,credit card numbers,trade sky bar,euler hermes servicos gestao riscos,dan north twitter,current events in the world,creditwise,euler hermes hamburg,dan northcutt,euler hermes login,economic news india,euler hermes aktiengesellschaft,trade off,insurance อ่านว่า,dan north euler hermes,economic news world,current events science,dan northrop,economic news brazil,current events today,current events in spain,bbc economy news,credit card offers,trade marketing,economic news in english,insurance ตัวย่อ,dan north wikipedia,insurance coverage คือ,trade sky bar telefono,current events pokemon go,economic news usa,economic news europe,trade bar,current events news,tradelog,dan north thoughtworks,credit score,tradescantia,euler hermes group,dan north limited,economic news articles,credit card,current events 2019,current events 2018,credit union of texas,dan north plumber,tradeinn,credit union,dan north bdd,credit union near me,dan northrop obituary wichita,insurance policy แปลว่า,insurance broker คือ,dan north linkedin,dan northrup,economic news uk,euler hermes italia,insurance premium,economic news today,trademark,current events cnn,economic news thailand,trader clube,economic newspapers,credit report,economic news canada,tradeview,dan north software faster,trader,economic news us,current events articles,dan northover,tradeit,economic news this week,dan northall,tradear,credit bureau,credit one,euler hermes brasil,dan northcott,
Không có nhận xét nào:
Đăng nhận xét