Podcast Episodes

Jobs

private-sector jobs

ADP reported earlier in the week that 517,000 new private-sector jobs were created in October. This morning the official report came in counting private and public jobs. That number was 531,000. These are very strong numbers pushing the unemployment rate to 4.6% from 4.8%.

At the same time, hourly earnings rose .4% which is a good number though a bit inflationary.  Investors see this as good news, more jobs with less inflation. This pushes back any necessary effort by the FED to think about slowing inflation. Their way to slow inflation is to tighten the money supply faster.

It is good for the time being and investors like what they see.