The Bureau of Labor Statistic (BLS) released new jobs data on Friday . According to the report, seasonally adjusted total nonfarm jobs rose 150,000 jobs in October, month over month. The unemployment rate rose slightly from 3.8 percent to 3.9 percent over the same period.
The headline payroll increase of 150,000, however, was possibly among the best news to be found in today’s new jobs data, however. Once we delve more deeply into the numbers, we find substantial evidence that the “strength” of the job situation is greatly overstated by the payroll numbers while employed persons, wages, and other […]