What a way to end the week on a high note! The monthly jobs report was issued today and employment looks really good.
For the ninth consecutive month, more than 200,000 jobs were created. In October alone 214,000 new jobs were added. Plus, unemployment decreased to 5.8 percent. We should point out that’s the lowest it’s been in six years.
The Bureau of Labor Statistics also seasonally adjusted its numbers from August and September by adding more than 31,000 more jobs than previously announced.
Per MarketWatch, economists recently polled had anticipated a seasonally adjusted gain of 243,000 jobs.
The piece points out this calendar year we’ve gained an average of 229,000 jobs every month. This is the fastest pace since 1999! Although employers are hiring, average hourly wages remained pretty stagnant. Last month hourly pay rose .1 percent to $24.57.