Some Encouraging Signs in BLS.
BLS Employment Situation Report (October 2014)
– Labor Participation Rate 62.8%. Previous was 62.7%.
– Nonfarm Payrolls month/month 214,000. Previous was 256,000
– Part-time Jobs -76,000
– Unemployment Rate 5.8%. Previous was 5.9%
– Average Hourly Earnings month/month +0.1%. Previous was +0.0%
– Average Workweek 34.6 Hours. Previous was 34.5 Hours.
This is a modestly positive report. While the increase in jobs was below expectation the fact that the Labor Participation Rate increase month/month and is flat year/year are both encouraging. Also positive is the fact that part-time jobs decreased. Flat earnings are not encouraging to workers.