Saturday, November 7, 2015 / by Rummy Dhanoa
As far as revisions went, the change in total nonfarm payroll employment for August was revised higher from 136,000 to 153,000, and the change for September was revised lower from 142,000 to 137,000. With these revisions, employment gains in August and September combined were 12,000 more than previously reported. Over the past three months, job gains have averaged 187,000 per month.
The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 2.1 million in October and has shown little change since June. These individuals accounted for 26.8% of the unemployed in October. The civilian labor force participation rate was unchanged at 62.4% in October, following a decline of 0.2% in September.
Summary of today’s economic data
Nonfarm Payrolls: Actual = 271,000; Consensus = 181,000; Prior = 137,000 revised lower from 142,000
Nonfarm Private Payrolls: Actual = 268,000; Consensus = 160,000; Prior = 149,000 revised higher from 118,000
Unemployment Rate: Actual = 5.0%; Consensus = 5.1%; Prior = 5.1%
Hourly Earnings: Actual = 0.4%; Consensus = 0.2%; Prior = 0.0%
Average Workweek: Actual = 34.5; Consensus = 34.5; Prior = 34.5