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Friday, November 5, 2010

Employment Reports Split

Marketwatch details:

Nonfarm payrolls rose by a greater-than-expected 151,000 last month as private-sector employers added 159,000 jobs, the Labor Department said Friday. The September number was revised to show payrolls fell by 41,000, less than an original estimate of a 95,000 decline.

However, the unemployment rate, which is obtained from a separate household survey, remained at a lofty 9.6% in October. About 14.8 million people who would like to work can't get a job. The jobless rate has been above 9.0% since May 2009, right before the recession ended.

Odd reports... the headline non-farm payroll number jumped more than expected.

But, the household survey disappointed, with the number employed actually falling and those leaving the workforce jumping by more than 400k.

Source: BLS