tyb
October Employment Report: 638 Thousand Jobs Added, 6.9% Unemployment Rate
Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined.
…
In October, the unemployment rate declined by 1.0 percentage point to 6.9 percent, and the number of unemployed persons fell by 1.5 million to 11.1 million. Both measures have declined for 6 consecutive months but are nearly twice their February levels (3.5 percent and 5.8 million, respectively).
…
The change in total nonfarm payroll employment for August was revised up by 4,000 from +1,489,000 to +1,493,000, and the change for September was revised up by 11,000 from +661,000 to +672,000. With these revisions, employment in August and September combined was 15,000 higher than previously reported. In October, the year-over-year change was negative 9.18 million jobs.
Total payrolls increased by 638 thousand in October. Payrolls for August and September were revised up 15 thousand combined. The Labor Force Participation Rate increased to 61.7% in October. This is the percentage of the working age population in the labor force.
https://www.calculatedriskblog.com/2020/11/october-employment-report-638-thousand.html
ty muh fren I appreciate that.
Don't always pay attention to all of it all the time.
Muh 'tude has always been they got this going back to summer '18 so sometimes I can miss stuff
That was pretty funny.
Has no fuggen clue most of the time.
Like most people who claim they know and try to force that on everyone they may have some things correct but the last bit, the important part, always missing.
Dollar slumps to two-month low
The dollar sank to its lowest level in over two months against a basket of peer currencies on Friday, as vote counting for the contentious U.S. elections slowly moved toward a divided government and investors predicted more losses for the currency. The need for more stimulus was underlined on Friday when the U.S. government reported that employers hired the fewest workers in five months in October. It was the clearest evidence yet that the end of previous fiscal stimulus and exploding new coronavirus infections were sapping momentum from the economic recovery. The dollar index fell against a basket of six major currencies to 92.461, hitting its lowest level since Sept. 2. For the week, the dollar index was down as much as 1.7%, on course for its biggest drop in almost four months.
A large decline in long-term Treasury yields due to expectations for less fiscal stimulus, combined with a rally in equities and other riskier assets, has placed the dollar under consistent selling pressure that is likely to continue. The dollar fell further against the Japanese yen, trading at 103.58 yen on Friday, close to an eight-month low.
Japanese Prime Minister Yoshihide Suga has vowed to work closely with overseas authorities to keep currency moves stable, because a strong yen is widely viewed as a threat to Japan’s economy. The recent currency moves have been big enough to set up a brief reversal.
The onshore yuan fell to 6.618 per dollar but still remained close to its more than two-year high reached on Thursday. Against a buoyant euro, the dollar traded at $1.1858 after falling 0.87% in the previous session.
The single currency has risen sharply this week on the dollar’s weakness, but has also benefited from news of the European Union inching closer to a budget deal.
https://www.reuters.com/article/global-forex/forex-dollar-slumps-to-two-month-low-investors-see-more-declines-idUSL1N2HS17R
https://www.marketwatch.com/investing/index/dxy