171,000 Jobs Added In October, Unemployment Rate 7.9%

Tyler Durden's picture




 

As expected, a whopping beat of expectations of 125,000 with 171,000 jobs added In October, and the Unemployment Rate rising modestly to 7.9%, but below the magical 8.0%. And while the U-3 rose, the U-6, or underemployment, declined from 14.7% to 14.6%. Go figure. And finally, the Birth Death adjustment came just 10K off our forecast, printing at 90K.

The Birth Death added +90,000, and has now added 568,000 year to date.

From the report:

Both the unemployment rate (7.9 percent) and the number of unemployed persons (12.3 million) were essentially unchanged in October, following declines in September. (See table A-1.)

 

Among the major worker groups, the unemployment rate for blacks increased to 14.3 percent in October, while the rates for adult men (7.3 percent), adult women (7.2 percent), teenagers (23.7 percent), whites (7.0 percent), and Hispanics (10.0 percent) showed little or no change. The jobless rate for Asians was 4.9 percent in October (not seasonally adjusted), down from 7.3 percent a year earlier. (See tables A-1, A-2, and A-3.)

 

In October, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.0 million. These individuals accounted for 40.6 percent of the unemployed. (See table A-12.)

 

The civilian labor force rose by 578,000 to 155.6 million in October, and the labor force participation rate edged up to 63.8 percent. Total employment rose by 410,000 over the month. The employment-population ratio was essentially unchanged at 58.8 percent, following an increase of 0.4 percentage point in September. (See table A-1.)

 

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) fell by 269,000 to 8.3 million in October, partially offsetting an increase of 582,000 in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

 

In October, 2.4 million persons were marginally attached to the labor force, little different from a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed  because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

 

Among the marginally attached, there were 813,000 discouraged workers in October, a decline of 154,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.6 million persons marginally attached to the labor force in October had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)

Hurricane Sandy had no impact:

Hurricane Sandy had no discernable effect on the employment and unemployment data for October. Household survey data collection was completed before the storm, and establishment survey data collection rates were within normal range nationally and for the affected areas. For information on how unusually severe weather can affect the employment and hours estimates, see the Frequently Asked Questions section of this release.

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 11/02/2012 - 08:32 | 2940526 lizzy36
lizzy36's picture

Michelle now looking through decorating mags. Going to hand new curtains in the West Wing for the 2nd term.

Fri, 11/02/2012 - 08:33 | 2940530 vast-dom
vast-dom's picture

F R A U D

Fri, 11/02/2012 - 08:35 | 2940545 ihedgemyhedges
ihedgemyhedges's picture

Takes a lot of people to stuff the inventory channel at GM...............

Fri, 11/02/2012 - 08:37 | 2940564 JPM Hater001
JPM Hater001's picture

Must - finish - Green

Fri, 11/02/2012 - 08:38 | 2940573 MillionDollarBonus_
MillionDollarBonus_'s picture

The global recovery is accelerating. Jobs are picking up, just as I predicted, and the S&P will soon be soaring above 1400, much to the dismay of doomer shorts on this site. This bodes very well indeed for both the Obama 2012 presidential campaign and the future of America. This a great day for average Americans, but a sad day for masochistic doomer libertarians.

Fri, 11/02/2012 - 08:41 | 2940590 BeetleBailey
BeetleBailey's picture

How's that Fartbook stock doing, Mr. Predictor?

Fri, 11/02/2012 - 08:42 | 2940594 GetZeeGold
GetZeeGold's picture

 

 

It's been doing fairly well since they banned the Seals.

Fri, 11/02/2012 - 08:47 | 2940620 MillionDollarBonus_
MillionDollarBonus_'s picture

I've been selling covered calls against half of my core Facebook holdings to ride out this volatility, which has generated some hefty premiums. I also sold my protective puts for a handsome profit, which makes me net short theta, so nerdy ZH day traders can't criticize me for that any more either. I am now positioned for the first significant leg up which will ultimately take FB into the 100s of dollars.

Fri, 11/02/2012 - 08:49 | 2940631 TeamDepends
TeamDepends's picture

Have fun with all that paper when the hammer drops.

Fri, 11/02/2012 - 08:53 | 2940652 Gully Foyle
Gully Foyle's picture

TeamDepends

Cocaine, they say it will kill you but they don't say when.

Fri, 11/02/2012 - 09:01 | 2940668 GetZeeGold
GetZeeGold's picture

 

 

Such a fine line....kinda hate to see it go - Jackson Brown

 

I heard that - Bronco Bomma

Fri, 11/02/2012 - 09:04 | 2940694 TeamDepends
TeamDepends's picture

That girl speaks for all of us, doesn't she?

Fri, 11/02/2012 - 09:04 | 2940695 economics9698
economics9698's picture

"The Birth Death added +90,000, and has now added 568,000 year to date."

Fucking bull shit. 

Fri, 11/02/2012 - 09:09 | 2940709 Gully Foyle
Gully Foyle's picture

GetZeeGold

I was shooting for Townes Van Zandt.

Fri, 11/02/2012 - 08:57 | 2940666 Itch
Itch's picture

All joking aside, when i seen FB employees unloading all their stock the other day it made me wonder if there was anybody snapping it up. Im sure its been done before; hammer the stock before the employees can offload then watch them freak out and sell the lot when they are allowed... only for it to be absorbed by shadowy figures (is halloween over yet?)

Fri, 11/02/2012 - 09:00 | 2940679 firstdivision
firstdivision's picture

I believe you ment to say "I've been trying to sell covered calls, but no one's buying".

Fri, 11/02/2012 - 09:06 | 2940700 paddy0761
paddy0761's picture

GOLD MDM, GOLD.

Fri, 11/02/2012 - 09:10 | 2940714 GetZeeGold
GetZeeGold's picture

 

 

If mom doesn't pop just go ask dad.

 

That crap really works.....trust me.....I used to be a kid.

Fri, 11/02/2012 - 09:18 | 2940739 JonNadler
JonNadler's picture

Me too. I just sold everything that just went up by 150% and generated huge profits. Now I am buying whatever will go up by 150% next time...What did I buy? he he well, that's a secret you know. Ask Warren

Fri, 11/02/2012 - 09:23 | 2940762 Lampooka
Lampooka's picture

MDB keep on practicing on your demo account till you get it right!

Fri, 11/02/2012 - 09:48 | 2940867 silvermaister
silvermaister's picture

You poor retard .....lots of paper 

 

 

BUY phyzz !!

Fri, 11/02/2012 - 08:42 | 2940597 francis_sawyer
francis_sawyer's picture

With regards to the "doomer libertarian" comment you love to [SARC] everybody with... I can't say I wholeheartedly disagree with your assessment... It appears that anyone who cherishes FREEDOM is DOOMED...

Fri, 11/02/2012 - 08:48 | 2940625 a growing concern
a growing concern's picture

It's sad that MDB is being facetious, because there's a whole lot of Obamaphiles out there who would actually write something very similar to an MDB rant- and mean it.

Fri, 11/02/2012 - 10:10 | 2940942 Overfed
Overfed's picture

That is the point that so many seem to miss.

Fri, 11/02/2012 - 12:38 | 2941573 Orly
Orly's picture

So many really smart people, too.  It's weird to me...

Fri, 11/02/2012 - 08:52 | 2940627 GetZeeGold
GetZeeGold's picture

 

 

FREEDOM is DOOMED

 

If you're gonna practice freedom....you're gonna have to purchase our heath care first.

 

Deems the rulz amigo.

 

Make sure you shallow your contraception pills also...even if your a guy. We don't play favorites around here.

 

Fri, 11/02/2012 - 09:11 | 2940717 Gully Foyle
Gully Foyle's picture

GetZeeGold

Male contraception is a relief for those who consider getting the snip.

You should have skipped that part, had more weight.

Maybe worked in Sandra Fluke too.

Fri, 11/02/2012 - 09:15 | 2940727 GetZeeGold
GetZeeGold's picture

 

 

Sandra Fluke flopped in Nevada......and that was on the home field.

Fri, 11/02/2012 - 08:55 | 2940656 Gully Foyle
Gully Foyle's picture

francis_sawyer

99 Tibetan monks on the wall, 99 Tibetan monks on the wall,

One set fire to himself in protest,

98 Tibetan monks on the wall

Fri, 11/02/2012 - 09:09 | 2940712 jomama
jomama's picture

who knew the definition of a masochist was someone who could see things for what they were - layers upon layers of outright fraud and manipulation in our face?

simply put, you're wrong, we all know you're full of shit, and desperate for attention.

Fri, 11/02/2012 - 10:21 | 2940981 Stock Tips Inve...
Stock Tips Investment's picture

In my opinion, do not gain much being so negative. If unemployment is falling, is good news. Surely, if we dig into the numbers, we find negative aspects. But I think it is better to emphasize the increase in employment and the recovery of the economy and the market. There are many (too many) issues to be resolved. Celebrate every little victory. That will make us much good.

Fri, 11/02/2012 - 08:37 | 2940568 Shocker
Shocker's picture

Pretty much inline what we expected would be reported, below 8.0%
Same old thing every month.

Total Layoff List Below

http://www.dailyjobcuts.com

Fri, 11/02/2012 - 08:43 | 2940600 Karlus
Karlus's picture

It will be cool to see what the "revision" is post election. Oh wait, why bother?

Fri, 11/02/2012 - 08:38 | 2940575 Zer0head
Zer0head's picture

Michelle also getting ready to place order for new hand crafted furniture for the Oval Office, which typically has a lead time of 4 years.

 

Fri, 11/02/2012 - 09:07 | 2940704 vast-dom
vast-dom's picture

GOLD stomped sub $1,700!!!¡!!! BTFD

Fri, 11/02/2012 - 08:37 | 2940549 GetZeeGold
GetZeeGold's picture

 

 

F R A U D

 

It's just a little fraud.

 

Someone please make sure Rick Santelli has taken his blood pressure medicine this morning.

Fri, 11/02/2012 - 08:38 | 2940572 JPM Hater001
JPM Hater001's picture

A little fraud here and there is good once in a while.

Of course this much will kill ya but screw it.

Bollingers for everyone.  Job well done.

Fri, 11/02/2012 - 08:49 | 2940601 BLOTTO
BLOTTO's picture

And with that - Obama is a *lock* (wasn't he always a lock for the global elite?)

.

As ZH states - 'as expected.'

I would be worried more if the numbers came in bad.lol Thats how fucked up this rigged perverted game is. We knew that these numbers would come in positive...to get Obama back in. Thier is a reason why 'they' want him in specifically.

You can have only one #44 Commander in Chief.

'They' rely on astrology, numerology and sacred geometry.

Ruler's of time and space - so they think they are.

 

Fri, 11/02/2012 - 08:53 | 2940647 a growing concern
a growing concern's picture

I'm not so sure Obama's a lock for the global elite.  All the Wall Street campaign donations have shifted to Romney for this election.  Also, Romney has some connections to Diebold, which could be pretty powerful.  And finally, though completely unsubstantiated, Romney has been linked to the Bilderberg 2012 meeting.  If true, then I say Romney is the selection.  We shall see very soon.  

Fri, 11/02/2012 - 08:59 | 2940673 Gully Foyle
Gully Foyle's picture

a growing concern

You do understand Obama was meant to be a place holder, a bone to the Democrats after Bush.

Romney is chosen to be the face of heavy lifting under the pretense of "turning things around".

Eventually Obama moves to the UN. The job was planned for Clinton but he could not keep his bent dick out of the public eye.

Even if Obama stays the 'Global Elite" still win. There will never be any grate policy changes which divert from NWO.

Only Russia and China throw a Monkey wrench into that scheme.

They figure they have just as much right to control as the other guy does.


Fri, 11/02/2012 - 09:03 | 2940686 GetZeeGold
GetZeeGold's picture

 

 

Can you turn up the volume some.....we're having a hard time hearing you.

 

Thanks in advance.

Fri, 11/02/2012 - 09:07 | 2940702 Gully Foyle
Gully Foyle's picture

GetZeeGold

There is your problem,Synesthesia.

I wrote those words and you hear them.

Get yourself checked immediately, they probably have meds for that now.

Fri, 11/02/2012 - 09:16 | 2940734 Orly
Orly's picture

You're absolutely right in your assessment of the "political" situation.

It is a little loud, though.  Kinda annoying...but what you say is true.

:D

Fri, 11/02/2012 - 09:27 | 2940765 Ghordius
Ghordius's picture

Yeah? Than explain to me his "Eventually Obama moves to the UN".

Though careful, GetZeeGold shoots on sight and has already bagged several heavily armed UN StormTroopers helicopters daring to roam in his home state.

He collects their scalps, I understand. After all, he is a barbarian like me... ;-)

Fri, 11/02/2012 - 09:30 | 2940788 GetZeeGold
GetZeeGold's picture

 

 

He collects their scalps

 

You must be mistaking me for Elizabeth Warren

Fri, 11/02/2012 - 09:30 | 2940791 Orly
Orly's picture

Well, Ghordius, I just don't see how you don't see that this is all a giant circle jerk.  Just look at the people who keep popping up over and over again, travelling in the same circles, regardless of party affiliation.  I can go down the list of names again but you'll just list their nationalities and brush it off as nonsense.

Seriously, if you can't see it by now, then there is nothing I can say that will make you understand.  Do some research, really explore the possibility that some of these kooky "conspiracy theories" may be correct.  That's all I ask.

Fri, 11/02/2012 - 09:17 | 2940736 GetZeeGold
GetZeeGold's picture

 

 

Maybe make it bigger? Still can't hear you.

Fri, 11/02/2012 - 09:03 | 2940689 BLOTTO
BLOTTO's picture

Of course Romney would serve the agenda well...he is a lap dog minion for the puppet master global elite.

.

I'm just trying to follow the signs that 'they' follow... And for whatever reason imo, they would like Obama in over Romney.

I also find it interesting Steve Spielbergs 'Lincoln' comes out this week...about a man who became Prez.

Who was different from previous Presidents, came up during a time of great struggle, who came from Illinois...sounds familiar.

Oh - he also gets snuffed out at the end of the movie.

 

Fri, 11/02/2012 - 09:13 | 2940721 Gully Foyle
Gully Foyle's picture

BLOTTO

I was impressed Big Love ran for so long.

About a Mormon business man living the principle who eventually gets elected to office.

Sound familiar?

Fri, 11/02/2012 - 09:26 | 2940775 GetZeeGold
GetZeeGold's picture

 

 

They shoot Catholics.......don't they?

Do NOT follow this link or you will be banned from the site!