The Jobs Report – October 2020

What you need to know:

  1. A very strong report with payrolls increasing by 638,000, more than the 580,000 expected by a Bloomberg survey of economists.
  2. Private payrolls increasing by a much larger than forecast 906,000.
  3. The labor force participation rate increased to 61.7% meaning the jobless rate decreased EVEN with people entering the labor force.
  4. Seasonal adjustments that subtracted from the headline payroll print actually make this report far stronger under the surface.
  5. The Leisure, Hospitality, and Retail sectors continued to add jobs.

Below is a link to the full statistical summary provided by the Bureau of Labor Statistics:*

http://www.bls.gov/news.release/empsit.b.htm


*The information contained herein has been prepared from sources believed to be reliable but is not guaranteed and is not a complete summary or statement of all available data nor is it considered an offer to buy or sell any securities referred to herein. Links included herein are to unaffiliated third party sites. The Firm cannot verify or guarantee the accuracy of any information presented therein. By clicking on these links, the reader understands and acknowledges they are leaving Ziegler Capital Management’s web page.