Free Markets, Free People

Economic Statistics for 6 Nov 15

The BLS reports that a higher-than-expected 271,000 net new jobs were created in October, the largest increase since December, 2014. The unemployment rate fell -0.1% to 5.0%. Average hourly earnings rose 0.4% to $25.20, while the average workweek was unchanged at 34.5 hours. The labor force participation rate was also unchanged at 62.4%. 313,000 people entered or re-entered the labor force, while the number of people reporting themselves employed rose 320,000. The number of people not in the labor force declined by -97,000. The U-6 unemployment rate, the broadest definition of unemployment published by the government, fell -0.2% to 9.8%.

Consumer credit surged $28.9 billion in September, the largest increase in the history of this data release. Revolving credit also rose $6.7 billion.

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One Response to Economic Statistics for 6 Nov 15

  • Would I be wrong in assuming BLS pretty much now stands for Bureau of Lies and Swindles?