Another month, another Jobs report, this time the Department of Labor released October’s projected numbers. And despite some setbacks in the form of the GM Auto strike, job growth outperformed economist estimates. While the GM strike created a loss of 42,000, October still managed to end strong with 128,000 jobs added to the workforce.
Steve Rick, chief economist at CUNA Mutual Group told CNBC reporters, ” This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late…The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.” In previous months, many economists were concerned that the labor report was showing early signs of a potential economic collapse but, at least for now, we can rest assured that the numbers will remain steady.
Learn more about the contents of the October Jobs report and the state of employment in our infographic below: