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November 2, 2007

Job Growth Up / Down

-- by Dave Johnson

October job growth strongest since May,

Shaking off fears about weakness in housing and credit, the U.S. economy created 166,000 net jobs in October, the best job growth since May, the Labor Department reported Friday.

... However, a separate survey of 60,000 households showed a loss of 250,000 workers, the third decline in the past four months. Economists say the payroll survey is more accurate, while acknowledging that it may not work as well when the economy is at a turning point.

We have to wait a month to know more... But the last two month's reports were revised down:
Payroll growth in August and September was revised down by a total of 10,000. The economy created 96,000 jobs in September.

Posted by Dave Johnson at November 2, 2007 6:00 AM

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Comments

I disagree that the payroll survey is a more accurate way to asses the current state of jobs in the economy. If the payroll stats truly reflected a stronger economy than the average middle class citizen feel were living in, then the constant interest rate shaving party by the Fed wouldn't be all the rage right now. Unfortunately it is all the rage, and the more interest points that are shaved the greater the potential for sharp market decline in the long run.

Posted by: The Sea Hawk [TypeKey Profile Page] at November 3, 2007 9:42 PM

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