The U.S. job market snapped back in October, with nonfarm payrolls rising more than expected while the unemployment rate fell to 4.6%, the Labor Department reported Friday. Nonfarm payrolls increased by 531,000 for the month, compared with the Dow Jones estimate of 450,000.
Comparing the rebound in jobs in the most recent recession (red) to the financial crisis of 2007-2008 (blue). Data via Calculated Risk. Percent Job Losses in Post WWII Recessions, Percent Job Losses Relative to Peak Employment Month, and Number of Months After Peak Employment.
The U.S. economy topped expectations and added 531,000 jobs in October, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell to 4.6%, a significant drop from January when the unemployment rate was 6.3%.
In China, business and local government debt is large, and the financial sector’s leverage is high, especially at small and midsized banks. Adding to the risk, real estate valuations are stretched, according to the latest biennial Financial Stability Report, which was published by the Federal Reserve System on Monday.
As the launch of the holiday shopping season approaches, U.S. retailers are having significant issues in ramping up distribution center staffing. Nearly two-thirds (64%) of respondents said turnover at distribution centers has recently increased.
After a lengthy stretch of soft results, the restaurant industry is enjoying some upward movement again. In the week ending October 17, restaurants posted their strongest sales and traffic growth in four weeks, according to Black Box Intelligence. But there is an underlying driver worth tracking — year-over-year check growth of 5.7 percent.
