Nov
04

Wonderful Work

Despite the GM strike and the loss of 17,000 Census workers, 128,000 new jobs were created in October. Moreover, there were upward revisions totaling 95,000 to August and September. And, the labor force participation rate hit 63.3%; best since 9/13! The only weakness; wage growth is flat at 3%. Maybe it’s fewer manufacturing jobs or less skilled workers entering the workforce, maybe lousy new jobs. No recession with this data.   

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